Economics
Greece’s Rating Raised by S&P as Budgetary Risks Subside
Pedestrians walk past retails stores in the main shopping district of Athens.
Photographer: Matthew Lloyd/Bloomberg
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Standard & Poor’s raised Greece’s sovereign credit rating by one notch, signaling confidence in the country’s new government and its policies.
Coming 16 months after it last upgraded Greece’s rating, S&P said in a statement Friday that it is raising the country’s long-term foreign currency debt to BB- from B+. The ratings agency’s outlook remains positive.