The agency explained this by the implementation of the government's mandatory reform program. Moody's agency for the first time since 2015 changed the long-term credit rating of Greece, raising it from Saa3 to Caa2, the outlook is positive. The agency's statement explains that the Greek government has fulfilled the mandatory reform program, which is to allow the country to receive the next tranche of 8.5 billion euros in the coming days and to pay part of the debts to international creditors. It is noted that the Greek authorities were able to carry out unpopular measures, including the growth of taxes, the reduction of pensions, the modification of labor legislation. In addition, Moody's stressed that in 2015, Greece was threatened by political instability and withdrawal from the euro area, but now public opinion polls show support for the main political forces to preserve the place in the EU.

Recall that in mid-May tightening measures of financial economy of Greece supported both the deputies from the ruling in the country left coalition Prime Minister Alexis Tsipras, and representatives of the opposition. At the same time, 15,000 people opposed the voting, which resulted in unrest near the parliament building of the country. People threw bottles with a Molotov cocktail, in response to which the police in Athens used tear gas.

Original article: Moody's raised Greece's rating for the first time in two years.