Standard & Poor's has increased its rating of Greece's sovereign debt by six notches, after efforts by its eurozone neighbours to keep it in the currency union.
The ratings agency said there has been "strong determination" within the eurozone to help Greece remain a member state. S&P has increased Greece's rating from 'selective default' to 'B-minus'. The agency also praised the continuing efforts by Greece's government to cut its spending. Greece is currently receiving the second of two bailouts. Last week, it started to receive the latest tranche of the bailout funds from the European Union and International Monetary Fund. They agreed to release €49.1bn after Greece agreed to continue with its austerity programme, which has triggered vio...
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