30 Nov 2013

Moody's lifts Greek credit rating

10:33 pm on 30 November 2013

International credit rating firm Moody's has raised the rating of Greek government bonds by two notches because of positive results of the country's economic austerity programme.

The new rating of C-a-a-3 remains well below investment grade, the BBC reports.

But Moody's says the upgrade reflects the significant fiscal consolidation and an improved outlook for the Greek economy.