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S&P upgrades Greek debt for first time in two years

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Staff Writer | Saturday January 20, 2018 6:43AM ET
Greece manufacturing
Greece   The outlook was kept positive

S&P Global Ratings raised Greece's credit rating by one rung to B from B- on Friday.


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That was marking the first time S&P has upgraded the country's sovereign debt in two years. The outlook was kept positive, which implies another upgrade is likely. The sovereign bond rating is still 5 notches below investment grade.

"Greece's growth and fiscal outlooks have improved alongside a labor market recovery and amid a period of relative policy certainty," S&P said.

 

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