S&P upgrades Greece to 'B+' on back of Eurogroup agreement

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

S&P was the first credit rating agency to respond to last week’s Eurogroup agreement by raising Greece’s long-term credit rating to ‘B+’ from ‘B’ on Monday.

The outlook was also updated to stable from positive. In its previous ratings activity for Greece in January, the agency had suggested that an upgrade would be warranted had Greece completed its adjustment programme and built up a significant cash buffe...

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