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DBRS Enhances Greek Credit Ratings

Canadian credit rating firm DBRS enhanced Greece's long-term credit rating to a "B", from a previous ranking of "CCC", along with a better grade of "stable" from "negative" regarding its rating outlook, according to reports.

In a DBRS statement, the better grades were granted because the nation is not currently threatened with a eurozone exit, along with the prediction that it will restructure its debt.

The North American rating agency said, "The slowdown in the shrinkage of the economy and the expectations that GDP will start growing again from the current year will assist Greece's efforts in reducing its debt" (www.amna.gr).