S&P raises Greece rating to CCC+, outlook stable

FXStreet (Córdoba) - The rating agency, Standard and Poor’s, upgraded the sovereign rating of Greece by two notches from CCC- to CCC+. The grade is still consider junk and applies to obligations vulnerable to nonpayment. The outlook was changed from negative to stable.

According to S&P, the move follows the Eurogroup loan and the lower probabilities of Grexit. The agency still sees the Greek economy contracting by 3% in 2015.

Greece’s rating by S&P is the highest among the top three agencies. Fitch grade is at CCC and Moody’s at Caa3, one and two notches below the recent upgrade.