Zonebourse: Greece expected to be upgraded by S&P and Fitch in coming week

Greece and Portugal will likely be upgraded in the coming weeks by ratings agencies, French financial website Zonebourse reported on Friday.

The website said that, in accordance with the CRA3 regulations, Moody’s, Fitch and Standard & Poor’s have all published their Sovereign Rating Review Calendar and the two countries are up for a revision.

“Greece and Portugal could be the two big winners of the state debt rating revisions by major ratings agencies in 2018. Greece, which has a ‘positive’ outlook on the ratings ‘Caa2’ and ‘B-‘ currently awarded by the three agencies, and Spain, which also enjoys a positive outlook on its ‘BBB+’ ratings which it currently holds in Fitch and S&P respectively, will be the first countries affected by a possible upgrade in two weeks, from S&P and Fitch respectively,” it said.

On February 2, it is Cyprus that could move closer to the “investment” category at Moody’s, which rated it ‘Ba3’ under a ‘positive’ outlook.

According to their calendars S&P will publish its rating review on Greece on Jan. 19 and Fitch on Feb. 16.