S&P Confirmed Credit Ratings Of The UK, Italy and Greece

In the statement made by the credit rating agency, it was noted that the credit ratings of England, Italy and Greece were confirmed.

S&P confirmed the credit ratings of the UK, Italy and Greece. While the international credit rating agency Standard & Poor's (S&P) confirmed the UK's long and short-term credit rating as "AA / A-1 +", the rating outlook was confirmed as "stable". In the said statement, it was noted that the UK's rapid vaccination practices will allow the economy to reopen gradually in 2021, providing a strong recovery in Gross Domestic Product (GDP) growth in 2021 and 2022. The statement pointed out that the restriction of access to the European Union (EU) will put pressure on recovery, and it was stated that the public deficit will start to narrow this year with the withdrawal of state support. In the statement, it was stated that the UK's long and short-term, local and foreign credit rating was confirmed as "AA / A-1 +" and its rating outlook as "stable".

Italy's Grade Confirmed

Another statement was made by S&P. In the statement, it was stated that Italy's long and short term credit rating was recorded as "BBB / A-2" and the rating outlook was confirmed as "stable". It was stated that the Italian economy is expected to grow by 4.7 percent this year and 4.2 percent next year, and this reflects private consumption, which has been revived by the acceleration of financial incentives, EU rescue funds and vaccination practices. In the statement in question, it was stated that the budget deficit, which was approximately 9.5 from 2020, is expected to be 11.6 percent of GDP in 2021. On the other hand, S&P announced that Greece's long-term credit rating was increased from "BB-" to "BB", its short-term credit rating was confirmed as "B" and its rating outlook as "positive". In the statement of the credit rating agency, it was noted that the Greek economy, which contracted by 8.2 percent in 2020 due to the coronavirus epidemic, is expected to grow by 4.9 percent in 2021 and 5.8 percent in 2022.     Source: Bloomberg HT