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:

https://www.moodys.com/research/Moodys-upgrades-Greeces-rating-to-B3-maintains-p

ositive-outlook--PR_379430