S&P holds off on new rating upgrade, ECB holds key to investment grade

Economy Tags: ECB, Ratings
Photo by Panayotis Tzamaros/Fosphotos
Photo by Panayotis Tzamaros/Fosphotos

Although the rating review by S&P scheduled for last Friday had created some anticipation that a further credit rating upgrade could be on the cards, the rating agency did not publish a review, closing the year with a ‘BB’ grade and positive outlook.

The agency had said during its latest rating upgrade in April that the positive outlook suggests over the next 12-18 months Greece could see another rating upgrade if growth surprises positively against estimates or is stronger than peers.

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