The messages of the rating agency
Moody’s
According to Moody's, Greece's debt burden has become significantly more sustainable
Sector outlook is driven mainly by progress on the profitability front
Together with the implementation of fiscal measures, higher nominal GDP growth will contribute to significant debt reduction the coming years
The rating agency cites the better financial position of Greece and the significant improvements in the quality of banks' assets
Growth prospects over coming years are positive, Moody’s says
Moody's warned investors of a balance of payments crisis
The negative outlooks reflect the downside risks associated with a balance of payments crisis, which could lead to capital controls and restrictions on foreign currency outflows
Turkey’s standing with investors has suffered as Erdogan pursued an approach that prioritized growth above all else
Moody’s placed Turkey as one of the least able to overcome the shock caused by the pandemic