Greece: Standard & Poor’s upgrades rating of the country, Europe – Les Echos – Les Echos

The rating agency Standard and Poor’s raised Tuesday by two notches, to ‘CCC +’ long-term debt rating of Greece, following the agreement with its creditors and Emergency funding has been the country in the wake

S & amp;. P, which matched this new note of a “stable” outlook, estimates that this agreement reduces the risk of a possible exit of Greece from the euro zone but that the danger of a Grexit nevertheless remains “high”.

Monday through 7160000000 EUR unlocked urgently by the EU, Greece could settle both arrears to the International Monetary Fund (IMF) on 30 June and 13 July, for a total of two billion euros and pay his due to the ECB 4.2 billion euros.

Raising the note to “CCC +” against “CCC-” previously is justified by the fact that “the failure of the country on its debts with private creditors is more inevitable in the next six to 12 months, “says SP.

After weeks of procrastination, the countries of the euro with Greece concluded a agreement to negotiate a third financial assistance plan since 2010, via the ESM rescue fund for the euro area. In exchange, the Greek radical left government should implement a drastic reform plan.