Don't miss

Replay


LATEST SHOWS

WEB NEWS

Facebook video shows LAPD shooting of homeless man

Read more

EYE ON AFRICA

Nigerian music: Afropolitan star Yemi Alade on European tour

Read more

DEBATE

The murder of Boris Nemtsov: Who killed charismatic opposition figure? (part 2)

Read more

DEBATE

The murder of Boris Nemtsov: Who killed charismatic opposition figure? (part 1)

Read more

BUSINESS DAILY

Nissan expects 'dramatic decline' in Russian car market in 2015

Read more

TALKING EUROPE

EU ‘committed’ to remaining world's largest aid donor

Read more

THE INTERVIEW

'Agent Storm': How a militant Islamist became a CIA spy

Read more

MEDIAWATCH

Media reactions to Boris Nemtsov's murder

Read more

TALKING EUROPE

Dealing with returning jihadists: Is de-radicalisation possible?

Read more

Europe

S&P upgrades Greece to B- with stable outlook

Text by News Wires

Latest update : 2012-12-18

Standard and Poor's has upgraded Greece by six notches from selective default status to B-, the ratings agency said Tuesday, adding that the forecast for the country was now stable.

Standard & Poor’s ratings agency has raised Greece’s credit grade by 6 notches to B-, yanking the debt-heavy country out of default but still keeping its devalued bonds in the junk zone.

The agency said Tuesday that the upgrade reflected its view that the other 16 European Union countries using the euro are determined to keep Greece inside the currency union.

It gave Greece a stable outlook, meaning it will not consider ratings changes in coming months.

S&P recently downgraded Greece to the bottom of its ratings scale after the country announced a debt buyback financed by its European partners. The purchase was successfully completed last week, and will reduce the country’s debt by some €20 billion ($26.4 billion).

(AP)

 

Date created : 2012-12-18

  • GREECE

    Greece launches sovereign bond buyback

    Read more

  • GREECE

    Greek lenders agree to unlock EU-IMF funds

    Read more

  • GREECE

    Greece approves fresh cuts with 2013 austerity budget

    Read more

COMMENT(S)