S&P affirms Greece at CCC+, stable outlook

FXStreet (Córdoba) - Ratings agency Standard & Poor’s has reaffirmed Greece's sovereign rating at CCC+ with a stable outlook.

S&P warned that snap elections in Greece will likely delay next disbursement of ESM funds. The agency also expects Greek economy will contract 3% this year.

“Although the Greek economy remains fragile and the September 20 election outcome uncertain, we think the risk of Greece leaving the eurozone has receded to less than a one-in-three likelihood”, S&P said.