Standard & Poor’s refrains from raising Greece’s credit rating

Standard & Poor’s stopped short of raising Greece’s sovereign rating, affirming it at B+ with a positive outlook, although the market had widely anticipated an upgrade.

In a scheduled rating decision S&P praised Greece’s fiscal progress and noted the favorable debt restructuring it has secured, but referred to various risks including a possible backtracking of financial reforms ahead of the upcoming general election, as well as to the international environment that generates uncertainties.