Standard & Poor’s affirmed on Friday Greece’s ‘B-/B’ ratings in its scheduled rating review. The outlook remains “stable”, reflecting its view that the risks to its ratings are balanced over the next twelve months.
It also said it expects economic growth over 2017-2020 to be supported by tourism and a gradually improving jobs market, but warned the economy remains fragile. “While there has been mild statistical recovery in the second half of 2016, the Greek economy remains fragile, and its banking sector is distressed.”
A press release from S&P includes a statement that the outlook for investment remains difficult, given challenges to Greece’s banks.
(source: ana-mpa)
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