Fitch Upgrades Greece By A Notch To 'B'; Outlook Stable -- Reuters
* Fitch says Greece has put worst behind it
* Upgrade comes days ahead of crucial EU vote
* Greek bonds still rated as junk
ATHENS, May 23 (Reuters) - Fitch upgraded its credit rating on Greece to 'B' from 'B-' and gave it a stable outlook on Friday, citing the government's better fiscal track record.
The upgraded rating still classes debt-laden Greece's bonds as "highly speculative" and is five notches below investment grade.
But Greece's deficit reduction by 14 percentage points of gross domestic product over the past years, under the harsh terms of its international bailout, mean the country has put the worst behind it, Fitch said.
Read more ....
My Comment: My Greek friends are telling me the exact opposite
No comments:
Post a Comment