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Fitch upgrades Greece to 'B-' from 'CCC'
August 18, 2017 / 8:38 PM / 3 months ago

Fitch upgrades Greece to 'B-' from 'CCC'

Aug 18 (Reuters) - Fitch Ratings upgraded Greece’s long-term foreign-currency issuer default ratings to ‘B-’ from ‘CCC’, citing reduced political risk and sustained GDP growth.

Fitch noted that its confidence in the banking sector remained fragile. (bit.ly/2wp1kV0)

“A key challenge for the banking sector is tackling non-performing exposures (NPEs), which remain stubbornly high at 45 percent of gross loans,” Fitch said on Friday.

Fitch maintained its outlook on the European country at positive. (Reporting by Muvija M in Bengaluru; Editing by Shounak Dasgupta)

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