Moody's Investors Service ("Moody's") has today upgraded Greece's long-term issuer rating as well as all senior unsecured bond and programme ratings to Caa2 and (P)Caa2 from Caa3 and (P)Caa3, respectively. The outlook has been changed to positive from stable. Greece's short-term ratings have been affirmed, at Not Prime (NP) and (P)NP. The key drivers for today's rating action are as follows: 1. Successful conclusion of the second review under Greece's adjustment programme and release of a tranche of €8.5 billion in the coming days. Beyond the near-term impact of allowing Greece to repay upcoming maturities, we ... (full story)