Rating agency hopeful on Greece, balks at upgrade

ATHENS, Greece — Ratings agency Standard & Poor’s has raised its outlook for Greece from “stable” to “positive,” encouraged by a recent round of cost-cutting reforms and an expected return to growth this year. But the agency fell short of upgrading its credit rating, keeping it at B-, which remains in so-called ‘junk status’ territory. Greece is hoping to tap bond market investors for only the second time since it was first bailed out in 2010.