Standard & Poor's Ratings Services on Friday raised Greece's sovereign credit rating to B- from CCC+, noting that the government is "broadly" complying with the terms of its 86-billion euro financial aid program. The ratings agency also expects Greece to meet the conditions of the bailout by the end of March, paving the way for an official debt relief effort. "Our prognosis for the Greek economy is for one more year of essentially flat growth, followed by a more robust recovery," said the ratings agency in a statement, noting that the economy has proven to be more resilient than expected. The outlook on the rating is stable. B-grade rating is generally referred to as "speculative" while CCC-grade is viewed as "may default" in the credit market.