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  • Standard & Poor’s upgrades PPC by one notch, to CCC+

    ‘The upgrade reflects mainly the successful refinancing of existing debt amounting to a total of 1.3bn euros with a consortium of Greek banks, but also the positive assessment of the actions of the company to improve the collectability of accounts receivable.’

    ΤοΒΗΜΑ Team
    ÌÅÃÁËÏÐÏËÇ ÁÑÊÁÄÉÁÓ.ÅÑÃÏÓÔÁÓÉÏ ÐÁÑÁÃÙÃÇÓ ÇËÅÊÔÑÉÊÇÓ ÅÍÅÑÃÅÉÁÓ ÔÇÓ ÄÅÇ ÌÅ ×ÑÇÓÇ ËÉÃÍÉÔÇ.

    Greece’s Public Power Corporation (PPC) expressed satisfaction with Standard & Poor’s upgrade of its credit rating by one notch, from CCC to CCC+, with a concomitant upgrade of the company’s prospects from negative to positive.

    “According to the related report, the upgrade reflects mainly the successful refinancing of existing debt amounting to a total of 1.3bn euros with a consortium of Greek banks, but also the positive assessment of the actions of the company to improve the collectability of accounts receivable, which led to a reversal of projections regarding risks,” PPC said in a statement.

    “S&P also stresses in its report that the upgrade took into account the improvement of Greece’s economic prospects. The upgrade is a positive omen for a successful return to the markets that is being planned. The efforts and actions of the enterprise, which among other things will lead to a further upgrade, is in full swing,” the statement concluded.

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