Standard & Poor's raises Greece's credit rating to CCC+

S&P said that the scenario of Athens defaulting on its debts was no longer inevitable in the coming months

Standard & Poor's today raised Greece's credit rating by two notches to CCC+ after the indebted country reached a preliminary deal with its creditors on a third bailout.

S&P said that the scenario of Athens defaulting on its debts was no longer inevitable in the coming months and thus the chances of Greece having to pull out of the euro were reduced, though still "high".