ATHENS, Greece (AP) - Ratings agency Moody's has upgraded Greece's credit rating, citing improved results in the crisis-hit country's economic adjustment program.

ATHENS, Greece (AP) Ratings agency Moody's has upgraded Greece's credit rating, citing improved results in the crisis-hit country's economic adjustment program.

The agency late Friday announced the two-notch upgrade from C to Caa3 still well below investment grade in a move seen as a boost for the government that has promised to end a crippling recession and return to international markets next year.

The news was announced hours after the government said talks with bailout out creditors had hit snags, pushing back negotiations on cost-cutting reforms for at least a week.