Open

Coming up

Don't miss

Replay


LATEST SHOWS

DEBATE

If Scotland Says 'Aye': Polls Say Independence Referendum Too Close to Call (part 2)

Read more

MEDIAWATCH

Scottish referendum in the media

Read more

AFRICA NEWS

Homosexuality in Africa: Kenyan movie debuts at Toronto Film Festival

Read more

DEBATE

If Scotland Says 'Aye': Polls Say Indpendence Referendum Too Close to Call

Read more

AFRICA NEWS

Ebola virus: US to send 3,000 troops to West Africa

Read more

THE BUSINESS INTERVIEW

Inger Andersen, Vice President for the Middle East and North Africa, The World Bank

Read more

FOCUS

Scottish referendum: Should I stay or should I go?

Read more

MIDDLE EAST MATTERS

Paris conference: A coalition against the Islamic State group

Read more

ENCORE!

Encore's Film Show: Spies, doppelgangers and gay rights activists

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)