S&P brings Greece back up to investment level

ATHENS, Oct. 21 (Xinhua) -- Standard & Poor's has upgraded Greece's sovereign credit rating back to investment level after 13 years, a move welcomed by the Greek government.

The rating agency announced on Friday that it has raised the Greek rating to "BBB-", from "BB+", with a stable outlook, explaining that "significant budgetary consolidation has placed Greece's fiscal trajectory onto a firmly improving track."