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S&P reaffirms Greek rating


S&P reaffirms Greek rating


US credit ratings agency Standard & Poor’s has held Greece’s rating saying it believes the economy is gradually re-balancing.

Giving Greece a B negative, S & P said the outlook for the Greek economy appeared stable despite continued high levels of debt.

The ratings agency also said it could raise the country’s status if growth were to pick up more substantially.

The positive comments are the latest upbeat news for debt-laden Athens, which this week clinched a deal for the release of further aid funds after negotiations with the EU and IMF.

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