Don't miss

Replay


LATEST SHOWS

FRANCE IN FOCUS

French presidential election: Over 40% remain undecided

Read more

EYE ON AFRICA

ICC orders Congo warlord germain Katanga to pay victims

Read more

MEDIAWATCH

Trumpcare Falls Before First Hurdle

Read more

THE WORLD THIS WEEK

Westminster Attack, Abadi in Washington (part 1)

Read more

THE WORLD THIS WEEK

Obamacare, Europe's Unholy Alliances, Martin McGuinness (part 2)

Read more

INSIDE THE AMERICAS

Export bans hit Brazil amid tainted meat scandal

Read more

#TECH 24

Inside Netflix's war room

Read more

FOCUS

French Catholic voters remain faithful to scandal-hit Fillon

Read more

PEOPLE & PROFIT

Growing ambitions: The forces driving India's economy

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)