R&I Upgrades Greece's Credit Rating To B-
Tuesday, 13 May 2014
The Japanese credit rating agency R&I (Rating and Investment Information) upgraded Greece's credit rating in foreign and domestic currency to B- with a stable outlook, from CC, ANA-MPA reported. The agency attributed it to the fact that the Greek economy was reaching its lowest point and the country's public debt would possibly begin falling in the next two years. R&I shared that the Greek economy finally reaches its lowest point and with a fiscal consolidation progressing as planned, the primary fiscal balance become positive. The Japanese credit rating expects the Greek economy to grow by 0-1.0 % this year helped by an increase in exports and investments.