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Low-productivity economy a legacy of adjustment without transformation
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BoG cautiously optimistic on economy and banking sector
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S&P leaves Greece's 'BBB' rating unchanged, hints at slower pace of upgrades
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Housing costs, food prices set limits to impact of tax cuts
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Moody's keeps rating unchanged at 'Baa3' - outlook stable
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Underspend and taxes push primary balance up to Aug 3.77 bln above target
S&P upgrades Greece to 'BB' with positive outlook in expectation of post-pandemic upside
In an unexpected move late on Friday night, S&P upgraded Greece’s rating by one notch to ‘BB’ from ‘BB-‘, while also revising upward its outlook from stable to positive.
The ratings agency had not taken any significant action on Greece since October 2019, when it had lifted the rating to ‘BB-‘ with positive outlook. Last April, it revised Greece’s outlook to stable from positive.
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