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Athens Macedonian News Agency: News in English, 14-05-12

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

  • [01] R&I upgrades Greece's credit rating to B-

  • [01] R&I upgrades Greece's credit rating to B-

    R&I (Rating and Investment Information), a Japanese credit rating agency, on Monday upgraded Greece's credit rating in foreign and domestic currency to B- with a stable outlook, from CC. R&I, in an announcement, attributed this decision to the fact that the Greek economy was reaching its lowest point and the the country's public debt as a percentage of GDP will possible begin falling in the next two years. "The Greek economy finally reaches its lowest point. With a fiscal consolidation progressing as planned, a primary fiscal balance became positive. The public debt is huge compared with the Gross Domestic Product, but will possible begin falling in one or two years, combined with an improvement of the fiscal balance," R&I said, adding that the country's ability to repay its debt has increased. The Japanese credit rating expects the Greek economy to grow by 0-1.0 pct this year helped by an increase in exports and investments.
    Athens News Agency: News in English Directory - Previous Article - Next Article
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