Don't miss

Replay


LATEST SHOWS

IN THE PAPERS

Robert Mugabe resigns: 'Hip Hip Harare'

Read more

IN THE PAPERS

UN tribunal decides fate of Mladic, 'Butcher of the Balkans'

Read more

EYE ON AFRICA

Celebrations erupt in the streets of Harare as Mugabe resigns

Read more

MEDIAWATCH

Zimbabwe's end of an era

Read more

FOCUS

Video: An uncertain fate for US's transgender soldiers

Read more

THE DEBATE

Enslaved in Libya: What to do about exploited African migrants?

Read more

ENCORE!

Seal on his new album 'Standards' and why he doesn't like texting

Read more

IN THE PAPERS

'The End of German Stability'

Read more

IN THE PAPERS

'Bad news for Merkel is bad news for Europe'

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)