Moody’s no longer scared by the Greek political situation. The rating agency confirmed the rating of Greek debt (“Caa3″) that it had awarded to Athens in July.
She also indicated that she no longer considering the lowering medium term, citing a more favorable political reforms in the country.
“ The key elements behind this decision are the approval of the third bailout and the emergence of political configuration slightly more willing than before to implement the reforms required by the plan , “said the agency in a press release issued Friday night.
With the victory of his Syriza party in the parliamentary elections of 20 September, the Greek Prime Minister leftist Alexis Tsipras was actually committed Friday to mark the first cabinet meeting of his new government to “quickly” implement the reforms demanded by Creditors, EU and IMF in return for a new loan.
An agreement on an aid plan was signed in pain July 13 by Greece, then threatened with expulsion from the euro area, allowing the maintenance of the country under financial infusion through a three-year loan of 86 billion euros, the third since 2010.
In early July, Moody’s had relegated the rating of Greek debt “Caa3″, one notch of the category “imminent payment default”, and had indicated that it was considering lowering the medium term yet.
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