According to Greek national news agency AMNA, Credit ratings agency Fitch recently upgraded Greece’s long-term foreign-currency issuer default rating (IDR) to “BBB-” from “BB+” with a stable outlook.
Fitch Ratings made the announcement on Friday night, following a previous move by Standard & Poor’s (S&P) to also restore Greece to investment grade.
Fitch’s decision also includes a positive outlook for Greece, suggesting the possibility of a further upgrade in the future.
The move by Fitch is just one of many, as several major rating agencies have reinstated Greece’s investment grade. This list includes DBRS Morningstar, Scope Ratings, and R&I.
At this time, Moody’s rating still lags behind, with Greece needing to move one more notch up to achieve an investment grade from this agency.
