S&P says successful implementation of Greek programme could lead to credit rating upgrade

21 January 2016
124 Views

Greece’s credit rating could be upgraded to B, from CCC+ after completion of a first review of the Greek economic adjustment programme, disbursement of loans according to a ESM schedule and probably combined with an ECB decision to begin accepting Greek state bonds as collateral again, Standard & Poor’s said on Thursday.

In a report on Eurozone Rating Trends 2016, S&P said that a stable outlook for Greece’s credit rating in the next 12 months showed that review risks were balanced. “A successful implementation by Greece of programme elements would probably contribute to enhancing its compressed dynamic for investments and growth and could help the government to create a good will among its official creditors for a further debt restructuring,” S&P said, adding that “on the other hand, we could downwgrade Greece’s credit ratings if the new government failed to implement reforms agreed in a memorandum signed with the European Commission”.

S&P expects the Greek economy to record zero growth rates this year and to grow by 3.0 pct in 2017 and 2018.

You may be interested

FYROM Foreign Minister: We were and will remain Macedonians
GREECE
shares71 views
GREECE
shares71 views

FYROM Foreign Minister: We were and will remain Macedonians

makis - Jan 19, 2018

Foreign Affairs Minister of FYROM Nikola Dimitrov clarified that his country’s interests in the negotiations with Greece over the name…

EuroWorking Group gives “go-ahead” for completion of 3rd review
FINANCE
shares78 views
FINANCE
shares78 views

EuroWorking Group gives “go-ahead” for completion of 3rd review

makis - Jan 19, 2018

The EuroWorking Group (EWG) is expected to issue a positive report for the completion of the third review of the…

Tsipras: Solution not only for name dispute, but also to irredentist rhetoric by FYROM
POLITICS
shares87 views
POLITICS
shares87 views

Tsipras: Solution not only for name dispute, but also to irredentist rhetoric by FYROM

makis - Jan 19, 2018

Greek PM Alexis Tsipras said his government was determined to reach a mutually acceptable solution on the name dispute with…

Leave a Comment

Your email address will not be published.