Rating agency Standard & Poor's (S&P) said on Friday that it upgraded Greece's sovereign debt rating to 'B-' from 'CCC+' as the agency expects Greece to meet the conditions of the third bailout programme. The outlook is stable.

"By the end of March, we expect a compromise to be reached on pension reform that will balance the government's preference to raise social security contributions and consolidate the separate pension funds into a single system," the agency noted.