Greece ’s credit rating will be increased one level by Fitch Ratings, which cited an improving economic and fiscal outlook for the country that sparked Europe’s sovereign debt crisis.
Greece’s long-term debt will be raised to B, five levels below investment grade, from B-, Fitch said in a draft report obtained by Bloomberg News. The upgrade may be announced tomorrow.
“Greece achieved a primary surplus in the general government account in 2013, a key target” with reference to the European Union-IMF financial assistance program and “an overperformance relative to budget,” the New York-based rating company said in the draft.
(source: Bloomberg)
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