S&P returns Greece's credit rating to investment grade

The ratings agency S&P has returned Greece’s credit rating to investment grade for the first time since 2010, citing the “significant progress” it has made in tackling economic challenges.

S&P’s is upgrading the country’s credit rating to BBB-/A-3 from BB+/B for long- and short-term local and foreign currency sovereign credit ratings, it announced in a statement Friday.