S&P raises rating on Greek debt

Washington: S&P Global Ratings on Friday raised the rating on Greek government debt by a notch citing the improved outlook for the crisis-stricken country´s finances and economic growth.

The rating on Athens´ long-term debt was improved to "B" from "B-" with a

positive outlook, which means the ratings agency could raise the grade further in the next year.

"The upgrade reflects Greece´s steadily improving general government finances and its gradually recovering economic prospects," S&P said in a statement.

The agency notes the government had budget surpluses in 2016 and 2017 and "the economy exited a multiyear recession last year." S&P projects Greece will see its economy grow two percent this year.