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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