S&P upgrades OPAP to BB-

S&P said it raised to BB- from B+ its long-term issuer credit rating on OPAP SA.

The outlook is stable.

“Our upgrade of OPAP stems primarily from our recent improved country risk assessment of Greece,” S&P said in a news release.

“This was due to recent actions taken to ease capital controls, in place since May 2015, ahead of Greece's expected exit from the European Stability Mechanism program in August 2018. As a result of this revision, the Greece country risk assessment no longer caps our business assessment and issuer credit rating on OPAP.”

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