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S&P raises Greece's outlook

24 July 17 - RE+D Magazine
S&P raises Greece's outlook

COMPANIES

Savills

Consultant - GREECE

Solum Property Solutions

Consultant - GREECE

IBI Group

Consultant - GREECE

ETAD.A.E.

Public entity - GREECE

PEOPLE

Antulio Richetta

Director IBI Group
Standard & Poor's on Friday revised the outlook on Greece to positive from stable. S&P affirmed a B- long-term credit rating and B short-term credit rating, stopping short of an upgrade that could raise Greek bonds out of 'junk status' at this time.

 

The positive outlook indicates the rating agency's view that there is at least a one-in-three probability that could raise ratings over the next 12 months.

In a statement Friday, S&P said the revision reflects an expectation that Greece's debts and debt servicing costs will "gradually decline" due to recovering economic growth, legislated fiscal reforms and further debt relief that "should enable Greece to reduce general government debt-to-GDP ratio through 2020".

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