The credit rating agecny, Standard and Poor's, has raised the sovereign debt rating of Greece by six levels. The Agency said, the move reflected the strong determination of European countries to help Greece stay in the Euro Zone. Credit rating agencies are seen as a key gauge for the health of an economy. For months, Greece had earlier been downgraded, stuck in payment default. Now, in a significant change, it has been taken up six levels by Standard and Poor's. That combined with stable outlook means the Agency's fear of Greece leaving the Euro has subsided and it will substantially reassure the Government in Greece and the Euro zone as a whole, severely shaken by that country's turbulence in the last few months.
News On AIR | December 19, 2012 9:50 AM
S&P's raise sovereign debt rating of Greece by six levels