Fitch Upgrades Greece to BBB, Citing Forecasts of Declining Debt
Kyriakos Pierrakakis, Greece's finance minister, during a Bloomberg Television interview in London on Friday.
Photographer: Chris Ratcliffe/BloombergFitch Ratings upgraded Greece’s rating status by a notch, saying the country is forecast to continue a debt decline and projected to have another budget surplus despite plans for fiscal easing.
The firm lifted Greece’s long-term sovereign rating to BBB from BBB- with a stable outlook, according to a statement on Friday. Following the move, all major rating agencies now place the country two levels above the junk territory except for Moody’s Rating, which places Greece one notch lower.