Greece’s center-right government has welcomed a credit rating upgrade by Moody’s, the last major ratings agency to lift junk status on government bonds that began 15 years ago during a severe debt crisis.

Moody’s has upgraded Greece’s credit rating from Ba1 to Baa3, signaling improved public finances and increased confidence in the country’s economic stability. This milestone marks the end of Greece’s 15-year junk status,

Moody's on Friday upgraded Greece's rating to Baa3 from Ba1 on Friday, rating the country at investment grade.

Moody’s upgraded Greece’s rating to ‘Baa3’ on Friday, while the outlook was revised from positive to stable. Greece has now secured the investment grade from all leading rating agencies, for the first time since the debt crisis erupted in 2010.

Moody’s Ratings lifted Greece’s rating status to investment grade Friday, putting an official end to the country’s junk status era that started back in 2010.

Vote of confidence and "kick-off" with an upgrade from the markets for the new leadership of the Ministry of Economics

“ (This) upgrade marks the closing of a great cycle for the Greek economy and certifies the country's return to European normality,” Finance Minister Kostis Hatzidakis said, describing the action as “a success not only of the government, but of all Greeks”.