Don't miss

Replay


LATEST SHOWS

FRANCE IN FOCUS

Pantheon: Acknowledging France's great men and women

Read more

#TECH 24

One heart, one tree: An app that bridges tech and the environment

Read more

FOCUS

Immigration, an American paradox

Read more

REPORTERS

Video - Abu Azrael: ‘Iraq’s Rambo’

Read more

#THE 51%

Brave women of history: French Resistance Heroines inducted into Pantheon

Read more

ENCORE!

Edith Piaf tribute's encore run, and jazz festival season in full swing

Read more

PEOPLE & PROFIT

Breaking up with the EU: Brexit or Fixit?

Read more

YOU ARE HERE

Baccarat, the crystal of princes and presidents

Read more

FOCUS

The plight of civilians in Darfur's forgotten conflict

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)