R&I Credit Agency Upgrades Greece to B-
- Written by Maria Athens
Today, Japanese Credit Rating Agency R&I improved Greece's credit rating in domestic and foreign currency from a CC to B-, with a stable outlook.
The credit firm announced that it upgraded the nation due to its decline regarding the GDP percentage of public debt, which may decrease within the next two years.
R&I stated, "The Greek economy finally reaches its lowest point. With a fiscal consolidation progressing as planned, a primary fiscal balance became positive. The public debt is huge compared with the Gross Domestic Product, but will possibly begin falling in one or two years, combined with an improvement of the fiscal balance".
The Japanese company has predicted that the Hellenic economy will increase by 0-1.0% in 2014, with assistance by the export and investment sectors.
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