Standard & Poor's

Standard & Poor's on July 21 upgraded Greece's sovereign credit rating by two notches and revised its outlook to stable from negative, citing eurozone countries initial agreement to start negotiations with the country on a third bailout.

The Islamic sukuk or bond market is set to drop sharply this year after Malaysia's Central Bank, one of the largest global issuers, stopped doing so, Standard & Poor's said on July 7.

Ratings agency Standard & Poor's said June 18 that it expected uncertainty to persist in Turkey over the next few months and that it would remain high until the year's end in the event of a snap election, which could potentially hamper growth.

The eurozone's body for dealing with failing banks said on Tuesday it was in close contact with Greek regulators as the country's banks face tough times.

"Greek banks are living in a challenging economic environment," Elke Koenig, chairman of the Single Resolution Board (RRB), told the European Parliament.

Standard & Poor's has confirmed its long- and short-term foreign and local currency rating on Bulgaria at 'BB +/ B' with stable outlook, the Finance Ministry in Sofia said on Friday.

By Francesco Canepa

The risk of Greece becoming insolvent is rising by the day as time runs out for Athens to strike a deal with its international backers, the president of Germany's Bundesbank said on Thursday.

The leaders of Greece, Germany and France agreed June 11 to intensify efforts for a bailout deal after late night talks aimed at preventing Athens from going bankrupt ended without a breakthrough.

Standard & Poor's said on June 8 the outcome of Turkey's general election had no immediate impact on its BB+ sovereign credit ratings on the country.

By Brendan Greeley, Rainer Buergin & Birgit Jennen

German Finance Minister Wolfgang Schaeuble ruled out further concessions to Greece, saying it's up to the Greek government to commit to the reforms needed to release aid rather than give false hopes to its people.

The US rating agency Standard & Poor's (S&P) has downgraded Russia's credit rating to junk, which is below investment grade.

Russia's credit rating has been lowered to such a level for the first time in a decade, Bloomberg reports.

Having a rating of BB+, Russia is on a par with Bulgaria and Indonesia, which makes it difficult for Moscow to borrow money from investors.