July 21, 2017 / 4:51 PM / 8 months ago

BRIEF-S&P revises outlook on Greece ratings to positive, affirms 'B-' long-term ratings

July 21 (Reuters) - S&P Global Ratings :

* S&P says rating on Greece is B-; Revises sovereign credit outlook to positive from stable

* S&P says outlook on Greece ratings revised to positive; ‘B-‘ long-term ratings affirmed‍​

* ‍S&P on Greece says positive outlook indicates view that, over next 12 months, there is at least a one-in-three probability that could raise ratings​

* S&P says outlook revision reflects expectation that Greece’s general government debt and debt servicing costs will gradually decline

* S&P - Recovering economic growth, legislated fiscal reforms, further debt relief, should enable Greece to reduce general government Debt-to-GDP ratio through 2020

* S&P says believe implementation challenges of further fiscal measures and some other reforms remain significant

* S&P - Believe recovering economic growth, legislated fiscal reforms, further debt relief, should enable Greece to also reduce debt servicing costs through 2020

* S&P says outlook revision reflects expectation commitment from Greece’s creditors, specifically from Euro group, to improve sustainability of sovereign debt burden‍​

* ‍S&P on Greece - Greek banking system remains impaired, though do not view as imminent risk of another round of recapitalization by the sovereign​

* ‍S&P says Eurogroup support is likely to pave way for Greece to successfully reenter sovereign bond markets this year​

* ‍S&P says Greece ratings constrained by high general government debt, low economic growth rates, structural challenges, impaired banking system, among others Source text : (bit.ly/2uj00zV)

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