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Moody's upgrades Greece credit rating

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Moody's upgrades Greece credit rating

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Greece has got good marks from Moody’s. The ratings agency has upgraded Athens by two notches to Caa3 status.

It cited improved results in the country’s economic adjustment programme, saying that the deficit target is within reach.

Although Greece is on course to balance its budget, talks with its international creditors have hit the rocks.

The Greek finance minister announced a delay in negotiations which are crucial to unlocking 1 billion euros in bailout money.

The Troika, who received a less-than-warm welcome on their last trip, were expected in Athens on Monday but cancelled after disagreements surfaced over the implementation of further unpopular austerity measures.

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