S&P on Thursday upgraded Public Power Corp.’s (PPC) outlook, from stable to positive, a development that comes after an upgrade of Greece’s rating to BB from BB-.
The ATHEX-listed power utility, Greece’s dominant power supplier, comes after similar upgrade last November.
S&P noted that the positive outlook is indicative of a further upgrade in the future.
State-run PPC racked up hundreds of billions of euros in losses prior to 2019, with the conservative government that assumed power in July of that year prioritizing the utility reform and restructuring.
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Greek Youth Struggle Amidst Low Wages and Soaring Expenses
Furthermore, 52.7% of respondents attribute Greece's current significant issues to governmental failure, while another 49.1% anticipate continued economic hardship in the nation's future
S&P Raises Greece Outlook to ‘Positive’; Rating Unchanged
The same international ratings agency in October 2023 raised the country’s creditworthiness to BBB- with a stable outlook
Number of Turkish Visitors to Greek Islands up 10-Fold After 7-Day Express Visa
More than 20,000 Turkish tourists flocked to the eastern Aegean isles during a nine-day religious period in the neighboring country
Greece to Protect 198 ‘Untouchable Beaches’
These beaches, numbering 198 across the country, fall within the Natura 2000 network and will be off-limits for concession and, by extension, for the placement of umbrellas, sunbeds, etc.
BoG: Feb. Current Account Deficit up by 1.8bln
At current prices, exports dropped by 10.3% (‑10.7% at constant prices) and imports grew by 5.7% (9.4% at constant prices).
Greece Becoming a ‘Refuge’ for German Pensioners
The government's policies to attract foreign property buyers to boot the economy is working, reports German newspaper Handelsblatt
Iran Activates Air Defense System- Reports of Attack by Israel
An Iranian official said explosions reported by Iran's media were the result of the activation of the country's air defense system, yet media reports attribute them to a drone attack by Israel
Poll: Greeks, EU Citizens Eager to Vote in European Elections
EU citizens are eager to vote in the upcoming elections for the European Parliament in June, with eight in 10 saying the current geopolitical situation makes voting imperative
Mitsotakis-Erdogan Meeting in Ankara Fixed for May 13
The Greek PM himself made the announcement from Brussels on Thursday, while he also responded to a question on Athens' intent to create a marine park in the central Aegean, an environmental initiative
Greece Aims to Boost Energy Capacity, Economy with Offshore Wind Farms
Greece’s Energy Ministry is pushing legislation to accelerate the construction of the first floating wind farms in Greek seas
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