Standard & Poor’s affirms Greece’s ‘B-/B’ ratings, says outlook remains stable

Standard & Poor’s affirmed on Friday Greece’s ‘B-/B’ ratings in its scheduled rating review on Friday. The outlook remained “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 economy remains fragile. “While there has been mild statistical recovery in second half of 2016, Greek economy remains fragile, its banking sector is distressed

The outlook for investment remains constrained, given challenges to Greece’s banks, the press release said.