Credit rating agency Standard & Poor’s (S&P) reaffirmed Greece’s investment-grade rating of “ BBB-” with a positive outlook.

S&P was the first of the three major US credit rating agencies to upgrade Greece to investment grade.  Fitch followed suit in December and Moody’s is expected to make its final assessment in November. Moody’s has kept Greece one notch before investment grade but it upgraded it to a positive outlook last month.

The German credit rating agency Scope Ratings also placed Greece in the investment grade category in December.