S&P returns Greece's credit rating to investment grade

  • 📰 brieflyza
  • ⏱ Reading Time:
  • 53 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 68%

United States News News

United States United States Latest News,United States United States Headlines

The ratings agency S&P has returned Greece's credit rating to investment grade for the first time since 2010, citing the 'significant progress' it has made in tackling economic challenges. Its decision makes it the first of the three major US ratings agencies to lift Greece's credit rating from speculative to investment grade.

The ratings agency S&P has returned Greece's credit rating to investment grade for the first time since 2010, citing the"significant progress" it has made in tackling economic challenges.S&P's is upgrading the country's credit rating to BBB-/A-3 from BB+/B for long- and short-term local and foreign currency sovereign credit ratings, it announced in a statement Friday.

Its decision makes it the first of the three major US ratings agencies to lift Greece's credit rating from speculative to investment grade. "Greece's public finances are improving thanks to the budgetary consolidation efforts," it said, explaining its decision. "Since the debt crisis in 2009-2015, significant progress has been made in addressing Greece's economic and fiscal imbalances," it added.to achieve a primary surplus of"at least" 1.2 percent of GDP this year, well above target, growing to 2.3 percent of GDP over the next three years.

The general election held earlier this year that returned Kyriakos Mitsotakis to power"allows the government to continue to build upon past reform efforts," to make Greece internationally competitive, S&P said."We expect additional structural economic and budgetary reforms, coupled with large EU funds, will support robust economic growth in 2023-2026 and underpin continued reduction in government debt," it added.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 10. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

S&P returns Greece's credit rating to investment gradeThe ratings agency S&P has returned Greece's credit rating to investment grade for the first time since 2010, citing the 'significant progress' it has made in tackling economic challenges. Its decision makes it the first of the three major US ratings agencies to lift Greece's credit rating from speculative to investment grade.
Source: brieflyza - 🏆 10. / 68 Read more »