Standard Poors upgrades Greeces credit rating to CCC as fears of collapse

Standard & Poor’s upgrades Greece’s credit rating to ‘CCC+’ as fears of collapse dissipate by The Associated Press Posted Jul 21, 2015 1:28 pm MDT Last Updated Jul 21, 2015 at 2:00 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Standard & Poor’s has raised Greece’s credit rating after a European bailout reduced the chances of the country’s government defaulting on its massive debts during the next year.Greece’s rating now stands at “CCC+” in an upgrade announced Tuesday. That classification means Greece is still on shaky financial ground, but less likely to face an immediate credit crisis.S&P had previously rated Greece as “CCC-,” a category signalling that loan payments are likely to be missed within six months.Greece was on the brink of reneging on part of its national debt of 320 billion euro ($347 billion) earlier this month until agreeing to a series of concessions to obtain short-term financing from other European nations.S&P still believes there is a one-in-three chance that Greece will leave the eurozone.

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