Fitch Ratings returns Greece to investment class
The rating agency becomes the second major to take country out of 'junk status' after S&P
Fitch Ratings was added on Friday night to the rating agencies that have reverted Greece to investment grade, as it raised Greece’s sovereign credit rating to BBB- from BB+.
What is more, Fitch said the Greek rating also has a positive outlook, that may well mean a further upgrade is on its way for Greece.
This signifies that the majority of the major rating agencies have now reinstated Greece’s investment grade after 13 years in “junk status,” given that in October Standard & Poor’s also upgraded Greece to investment level.
That has followed similar rating decisions by DBRS Morningstar, as well as Scope Ratings and R&I.
Friday’s development has left Moody’s as the only major rating agency that has not yet upgraded Greece back to investment grade, as it needs to take Greece up one more notch for that.
