Greece credit rating up six notches

Press Association

Standard & Poor's ratings agency has upgraded Greece's credit grade by six notches - yanking the debt-heavy country out of default, but still keeping its devalued bonds in junk status.

The agency said the upgrade to B- - the highest grade it has given Greece since June 2011 - reflected its view that the other 16 European Union countries using the euro are determined to keep Greece inside the currency union.