Standard and Poor's raises prospect of Greece's debt rating to "positive"

Washington – Standard and Poor's rating agency said Friday that it has raised Greece's sovereign debt outlook from "stable" to "positive", including "greater political stability".
  

" The positive outlook reflects a possible increase in the rating if the authorities unleash Greece's growth potential by encouraging competition, strengthening property rights, streamlining bankruptcy procedures and improving implementation of contracts ", the agency said in a statement.

S & P confirmed the note " B + ", in the highly speculative category, which was raised on June 25, because of a better " balance of risk " as to the solvency of the country.

" Greater political stability should support the economy of Greece and its banks ," the agency said Friday.

It further considers that " public infrastructure projects will catalyze investment in the tourism and logistics sector, improving growth forecasts for Greece ".

In June, Greece reached an agreement with its creditors in the euro area, providing for a ten-year extension of repayment terms for a large part of the Greek debt, the level of which remains in relation to Gross Domestic Product. the highest in the European Union (180% of Greek GDP).

The agreement will also allow Greece to leave, as planned, the tutelage of its creditors on August 20.