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After hours: Moody's upgrades Greece's......>

RATINGS: After hours: Moody's upgrades Greece's rating to B3, maintains positive
outlook. The key drivers for today's rating action are as follows:
- Greece has achieved material fiscal and institutional improvements under its
current adjustment programme, which Moody's believes will be sustained in the
coming years.
- Moody's believes that Greece will successfully conclude its third support
programme and return to self-sufficiency and market-based funding. Its "clean"
exit will be supported in the near term by a substantial cash buffer and over
the medium to long term by the strong commitment of Greece's euro area creditors
to providing further debt relief.
- The risk of another default or restructuring on the debt owed to private
investors has therefore materially declined, and the uncertainty around that
judgment has also diminished materially.
- Full piece:
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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