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S&P Upgrades Greece Sovereign Ratings … RTT June 26, 2018 at 09:44AM

S&P Upgrades Greece Sovereign Ratings … RTT

 

S&P Upgrades Greece Sovereign Ratings

S&P Global Ratings upgraded the sovereign ratings of Greece citing reduced debt servicing risks.

The rating agency raised the credit rating by a notch to ‘B+’ with a ‘stable’ outlook.

S&P observed that debt relief announced by Eurozone finance ministers last week significantly reduced sovereign debt servicing risks over the next two years.

At the Eurogroup meeting, ministers deferred interest on a major portion of loans provided to Greece. Further, Greece is set to receive last tranche of the European Stability Mechanism programme totaling EUR 15
billion.

Following the conclusion of Eurogroup meeting, Christine Lagarde, Managing Director of the International Monetary Fund, said the additional debt relief measures will mitigate Greece’s medium-term refinancing risks
and improve its medium-term debt prospects, both of which are very welcome results.

by RTTNews Staff Writer

 

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