Fitch upgrades Greece’s sovereign credit rating from B- to B

Fitch on Friday upgraded Greece’s sovereign credit rating by one notch from B- to B, and kept its positive outlook.

In its report, the major rating agency estimated that the sustainability of the state debt will improve with the contribution of the economic recovery and the reduction of the political risk as the primary surpluses which are ensured by the additional fiscal measures that will be implemented until 2020.

The expectations for the smooth conclusion of the third adjustment programme reduce the risk the economic recovery to be undermined by a blow to the trust or the creation of new overdue debts to the state.