China congratulates Greece on credit rating upgrade, Greek Econ Min says

A congratulatory note was sent to the National Economy & Finance Ministry on Monday by the Embassy of the People's Republic of China, welcoming Greece's upgraded credit rating upgrade to investment grade by two of China's largest credit rating agencies.

The upgrade reflects China's confidence in Greece's improved economic state, the reduced threats to its banking system, the dynamic of the reforms, and the prospects for development.

China Lianhe Credit Rating Co. (Lianhe Credit) raised Greece's long-term credit rating to BBB from BBB- with stable outlook on October 27. Chengxin Credit Rating Group raised the country's credit rating to B- from BB+ with stable outlook on October 26.

China's assessment is that Greece's achievement of restoring its investment grade rating will contribute significantly to attracting Chinese investments to the Greek market and have positive repercussions in the two countries' dynamic economic and trade collaboration.