Scope Ratings has reaffirmed Greece's credit rating at BBB, maintaining a positive outlook on the country's financial health. The agency attributes this stable rating to Greece's strong fiscal performance, which includes maintaining primary surpluses that have helped place the public debt on a steady downward trajectory relative to GDP. Additionally, the favorable structure of public debt, characterized by a significant average maturity and the predominance of fixed interest rates, along with substantial liquidity buffers and a high percentage of public sector ownership, supports this rating.

Another critical pillar backing Greece's credit rating is the robust institutional support from the European Union, which provides a reliable safety net through the Euro system and financial assistance under the NextGenerationEU program. This support is essential for facilitating investment, managing the energy transition, and implementing necessary reforms within the Greek economy. The NextGenerationEU program aims to catalyze sustainable growth while addressing the urgent challenges posed by the ongoing energy crisis.

Despite the stable outlook, Scope Ratings notes several challenges that could impact Greece's creditworthiness, primarily revolving around the very high levels of public debt that remain vulnerable despite a decreasing trend. The agency emphasizes that continuing vigilance over fiscal management will be crucial as Greece navigates economic recovery amidst global structural changes and the lingering repercussions of the energy crisis.