January 24, 2020 / 9:45 PM / a month ago

Fitch upgrades Greece credit rating on improving debt situation

Jan 24 (Reuters) - Fitch Ratings on Friday upgraded Greece’s credit rating to ‘BB’ from ‘BB-‘, saying that GDP growth and fiscal prudence were leading to government debt remaining at sustainable levels.

The rating upgrade puts the Balkan country two notches below investment grade.

The agency also upgraded its outlook to “positive” from “stable” on expectations that general government debt would steadily drop on improved prospects of political stability and policy implementation after the July parliamentary election. “We have greater confidence that the fiscal stance will remain prudent,” Fitch said in a statement. (Reporting by Aditi Sebastian; Editing by Arun Koyyur)

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