Standard & Poor’s to issue positive report for Greece

The Standard & Poor’s rating agency is expected to issue a progress report on Greece by Friday, where it is rumored to praise the fiscal consolidation and improvement of competition in the economy. The rating agency will revise Greece’s rating for its autumn review scheduled for the 12^th of September 2014.

A present Greece has a “B-/B” rating, which entails a steady outlook. The new rating is not expected to be much different, however it will indicate how Greece will be treated, if the Eurozone partners decide to reduce the Greek debt.

In the rating agency’s previous report on the Greek economy in October 2013, Standard & Poor’s recognized the fiscal progress and improvement of competition however it also expressed concerns over the general government’s debt and Greece’s foreign debt, which were found to be excessive.

The Moody’s rating agency will publish its own progress report on the Greek economy on the 4^th of April 2014, followed by the FitchRatings agency’s report which is due on the 23^rd of May 2014.