Rating and Investment Information (R&I), a Japanese credit rating agency, on Monday upgraded Greece’s credit rating to B+ from B with a positive outlook.
In a report, R&I said the Greek economy will possibly remain on a stable course, recording primary surpluses and with public debt falling from 2019 onwards.
It added that the government was adhering to its reform program and the Eurogroup agreed to release the first round of debt relief measures.
The credit rating agency said that given the fact that the government has great funding reverses and an improving financing environment, the country’s debt sustainability has also improved.
R&I said it expected general elections to be held by October 2019, at the term end of the current government, and noted that it will upgrade the country’s credit rating again if the new government preserved fiscal discipline and continued a reform program.