Rating agency Standard & Poor’s published a positive report for Greece on Friday, confirming the “B-/B” rating and stable outlook. In its report, the rating agency focused on the progress in fiscal consolidation and improvement of competition.
While Greece’s “B-/B” rating is not expected to change, it does suggest that rating agencies are more optimistic about the latest developments and progress in the Greek economy. Standard & Poor’s report from October 2013 stressed that the general government’s debt and the country’s foreign debt were excessive. The rating agency is expected to revise its review of the Greek economy in its autumn report, which is due in September 2014.
As for other rating agencies, Moody’s is expected to publish its report on the 4th of April 2014, with FitchRatings expected to publish its own report on the 23rd of May 2014.
