Market News
December 18, 2012 @ 9:37 pm

Standard and Poor’s upgrades Greece credit rating

Greece was upgraded from “selective default” up to B minus with a stable outlook on Tuesday by the ratings agency Standard and Poor’s.

S & P said that they decided to lift the rating citing the country’s successful completion of a bond buyback scheme last week, which was part of a deal reached with the EU and IMF as a condition for Greece to receive further financial aid. A total of 49.1 billion euros in aid will be disbursed to Greece by the end of March. S&P had downgraded Greece in early December before the Greek bond buyback.

“The upgrade reflects our view of the strong determination of European Economic and Monetary Union (eurozone) member states to preserve Greek membership in the eurozone,” S&P said.

“The outlook on the long-term rating is stable, balancing our view of the government’s commitment to a fiscal and structural adjustment against the economic and political challenges of doing so,” the agency added.

“This was a very important decision for Greece but we won’t rest,” Stournaras said. “It creates a sentiment of optimism but the way ahead is long and steep.”

Related Posts Plugin for WordPress, Blogger...

2 Responses to “Standard and Poor’s upgrades Greece credit rating”

  1. Akshay Says:

    Im very interested in getitng a robot to trade for me. I have heard great things about robots, But I am not sure which robot works the best. Im a new to completely and Im just looking for an automated way to make money from home. Would you even recommend trading with a robot at this current economic time? How much many can make with a robot and what is the best robot from your personal experience. Please help. Thanks

  2. Mingming Says:

    this one was doing so well for me before cirshtmas then it went inconsistent \the high s/l was frightening so i amended it to 30 pips and its hit it a few times and that wasnt good on the money management use of the ea..its money management tends to be a bit high which produces good resukts when good but when a trade goes bad NOT GOOD!!! i find it consistently wins say 4 then looses one around those odds and its mad eme take off my live account and put back onto demo testing I wont give up on it just yet but the results arent as stable as they were for me last year

Leave a Reply

You must be logged in to post a comment.