A decision by Fitch Ratings on Friday to upgrade Greece to a “BBB” rating with a stable outlook is the last evaluation of the Greek economy by an international rating agency for the current year.
Fitch upgraded Greece’s long-term foreign currency issuer default rating (IDR) to “BBB” from “BBB-“, continuing an upward trend for the country’s creditworthiness over the past few years.
The New York City-based ratings agency cited the following main reasons in justifying its decision, namely, a significant debt reduction; a continued strong fiscal performance; a moderate fiscal easing; a prudent and credible fiscal framework; low financial risks and resilient economic growth.