Standard and Poor's boosted Greece's credit rating by several notches Tuesday, citing the broad commitment to keep Greece in the eurozone.
S&P lifted Greece's credit rating six notches to B-minus from selective default, a rating it slapped on Greece earlier this month when Greece entered into a debt buyback program with private bondholders.
Tuesday's upgrade reflects the completion of the buyback as well as the eurozone finance ministers' approval to release an additional €49.1 billion in aid to Greece, S&P said.
Standard and Poor's boosted Greece's credit rating by several notches Tuesday, citing the broad commitment to keep Greece in the eurozone.
S&P lifted Greece's credit rating six notches to B-minus from selective default, a rating it slapped on Greece earlier this month when Greece entered into a debt buyback program with private bondholders.
Tuesday's upgrade reflects the completion of the buyback as well as the eurozone finance ministers' approval to release an additional €49.1 billion in aid to Greece, S&P said.
http://money.cnn.com/2012/12/18/investing/greece-credit-rating/