The Canadian ratings firm DBRS has upgraded Greece credit rating from “CCC” to “CC.” At the same time, the agency pulled the country out of status review and set a steady trend in all evaluations.
According to DBRS, this bailout program may in fact lead to the stabilization of both the Greek banking sector and the country’s economy.
According to the rating firm, the agreement of July 15 between the Greek authorities and the country’s creditors for a third three-year adjustment program, amounting to 86 billion euros eased the intense pressures on liquidity and removed the immediate threat of a Grexit from the Eurozone and subsequent debt default.
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