Standard & Poor's has raised Greece’s credit rating to “B-” from “CCC+”. The outlook is stable.
Economists at S&P said that Greece complies with the bailout terms set by its creditors in 2015 as Greece’s government is continuing to cut spending and recapitalize the country’s banks.
S&P said it expected "one more year of essentially flat growth" for the Greek economy, "followed by a more robust recovery."
B-grade rating is generally referred to as "speculative" while rating at the “CCC” level reflects an opinion of very weak credit quality with a significant risk of a default.
