Standard & Poor’s raised Greece’s credit rating one notch on Friday, from B- to B, acknowledging the fiscal endeavors made by the country. It said that the country’s outlook was stable.

In its announcement, S&P said the upgrade decision reflected the view that risks to fiscal consolidation in Greece have abated. "We expect that, from next year, the Greek economy will emerge from seven consecutive years of negative growth; recovering real and nominal GDP will enable Greece to operate average primary surpluses of 2.0 % of GDP during 2014-2017."

See also S&P upgrades Greek credit rating as fiscal conditions improve