Standard & Poor’s on Friday upgraded prospects for Greece’s credit rating to positive, up from a stable outlook, leaving the actual rating unchanged at BB+, one notch below investment grade.
The decision is considered as “balanced”, given that it comes a month away from general elections in the country, while the positive outlook points to a coming re-emerge by the thrice-bailed out country to investment grade territory after 13 years in “junk” status.
S&P is expected to delay any upgrade to investment grade until uncertainty in Greece’s political sphere is dissolved with the swearing-in of a new government, either of the one-party variety or a coalition.
The international rating agency upgraded Greece from “BB” to “BB+” exactly one year ago, with the “stable” outlook in place since then.
Another six milestones are on the 2023 calendar for the Greek economy’s assessment by international ratings firms, with Fitch’s latest report scheduled for June 9, followed by Scope in August; DBRS in September; a second report by Moody’s in September, and again by S&P in October. Fitch will close out the year vis-à-vis Greece’s rating on Dec. 2.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
JP Morgan Revised Greece Outlook to ‘Overweight’
The investment bank notes that Greece is showing the strongest GDP growth in the Eurozone. Additionally, efforts to clear up bank balance sheets are anticipated to yield increased capital returns.
Vardis I. Vardinogiannis, Greek Tycoon and Shipping Magnate, Dies at 91
In 1990, Vardinogiannis was targeted in an attack which involved three rockets fired at his vehicle by the terrorist organization 17 November.
Kudos for Greek Sheep’s Milk Cheeses
Graviera is the Greek version of the Swiss gruyère, and is generally considered the second most popular cheese made in the country after feta
EIB Survey: Greeks Rank Climate Change as Top Concern After Cost of Living
Specifically, 98% of the Greeks surveyed stated that the country must to adapt to climate change, with 60% saying that priority should be given to these adjustment measures
Trump Tells Putin not to Escalate Ukraine War during Phone Convo
Meanwhile, President Joe Biden, is preparing to lobby Trump against abandoning U.S. support for Kyiv
Former Thessaloniki Mayor Yiannis Boutaris Dies at 82
Boutaris entered politics in 2010, serving as the 60th mayor of Thessaloniki for two consecutive terms until 2019, becoming a transformative figure with his progressive policies.
Greece Plans to Link Golden Visa to Startup Investments
The Greek government wants to decouple the Golden Visa Program from Real Estate investments
Greece Honored Country at World Travel Market (WTM) 2024
Greece held a prominent position within the exhibition space, with its main entrance adorned digitally in Greek colors.
Inflation in Greece Down to 2.4% in October, ELSTAT says
On a year-to-year basis, the average inflation in Greece from November 2023 to October 2024 increased by 2.9%, compared to a 4.2% rise during the same period the previous year
First-Ever Pop-Up American Space at a Sports Venue Opens at Georgios Karaiskakis Stadium
The new Pop-Up American Space was inaugurated at the Georgios Karaiskakis Stadium by US Amb. George J. Tsunis, Olympiacos FC President Evangelos Marinakis and the Mayor of Piraeus, Yannis Moralis
