Fitch Raises Greek Sovereign Debt Rating



Greece has seen an improvement in its sovereign debt score, with Fitch moving its rating up to ‘B’ from ‘B minus’.

The international credit rating agency on Friday said Athens’ growing economy and budget surpluses were behind the decision.

Friday’s move follows a similar improved score from Standard & Poor’s who also cited Greece’s recovering employment situation.

Greece recorded the biggest percentage decline in the unemployment rate among EU countries in October 2017, falling to 20.7 percent of the workforce from 23.3 percent in October 2016, Eurostat said last month.

This month also saw a return to the international bond markets, with the Greek government selling seven-year syndicated bonds through the launch of a book-building procedure.

 


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