Moody’s affirmed the sovereign rating of Greece to “Caa3″ and changed its stable outlook.
Moody’s launched on July 1, a review of the rating of Greece for a possible downgrade due whereas the difficulties that existed in the negotiations on a new financial aid plan for that country. Since then, an agreement was concluded supposed afford to keep Greece in the euro area and the ruling coalition in Athens was extended during the parliamentary elections on September 20.
“The essential factors of this confirmation are the endorsement of the third financial assistance program and the emergence of a slightly more favorable political configuration that previous to the implementation of the reforms will require this program, “said Moody’s
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