FXStreet (Córdoba) – Rating agency Standard & Poor’s decided to upgrade Greece to B- from CCC+ on Friday, keeping a stable outlook.
S&P cited progress in reforms, such as cutting costs and recapitalizing banks. The agency said that Greek government is “broadly complying” with the terms of its €86-billion financial rescue program.
S&P expects Greek economy is for one more year of essentially flat growth, followed by a more robust recovery.
(Market News Provided by FXstreet)