Greece may have returned to the "good graces" of the world's ratings agencies - with Fitch being the latest to upgrade the country's credit rating - yet this week's forecast by UBS underlines that the thrice bailed-out country will not reach the much-coveted "investment grade" level this year.
As such, the investment banks expects that Greece will again miss out on participation in the ECB's "quantitative easing" program, a massive national assets purchase scheme by the Eurozone's central bank. Failure to participate in stimulus plan was one of the distinct failures of the previous leftist SYRIZA government.
Nevertheless, USB also forecasts more upgrades of Greece's credit rating, as S&P, Moody's and DBRS are set to release new ratings reports in late April or early May.
