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Athens Macedonian News Agency: News in English, 14-05-12
CONTENTS
[01] R&I upgrades Greece's credit rating to B-
[01] R&I upgrades Greece's credit rating to B-
R&I (Rating and Investment Information), a Japanese credit rating
agency, on Monday upgraded Greece's credit rating in foreign and domestic
currency to B- with a stable outlook, from CC. R&I, in an announcement,
attributed this decision to the fact that the Greek economy was reaching
its lowest point and the the country's public debt as a percentage
of GDP will possible begin falling in the next two years. "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
possible begin falling in one or two years, combined with an improvement
of the fiscal balance," R&I said, adding that the country's ability to
repay its debt has increased. The Japanese credit rating expects the
Greek economy to grow by 0-1.0 pct this year helped by an increase in
exports and investments.
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