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Upgrade good news for Greece


Upgrade good news for Greece


Greece’s borrowing costs have fallen after Standard & Poor’s lifted its assessment of the country’s credit rating.

That means the credit agency’s assessment is that Athens is now more likely to repay its debts.

S&P credited the upgrade to the “strong determination” by European policy makers to keep Greece in the eurozone.

It is the latest good news for Athens, which last week got approval for the payout of 49.1 billion euros of bailout loans from the European Union and the International Monetary Fund.

The upgrade news sharply boosted share prices on the Athens Stock Exchange.

The ripple effect helped government bonds issued by other eurozone countries with low debt ratings.

Italy’s borrowing costs slipped to their lowest levels in two years, while Portuguese yields were at their lowest since February 2011.

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