December 3rd, 2013

Fitch upgrades Greece’s credit rating to B-/steady outlook- Country ceiling upgraded to B+

Ratings on Monday affirmed Greece’s long-term foreign and local currency issuer default ratings (IDR) at B-. The issue ratings on Greece’s senior unsecured foreign and local currency bonds have also been affirmed at B-.

The outlooks on the long-term IDRs are stable.

The short-term foreign currency IDR has been affirmed at B and the country ceiling upgraded to B+ from B.

Fitch said it has taken into account that Greece is on course to eliminate longstanding macroeconomic imbalances and there has been no repetition of the protracted delays in EU-IMF disbursements that marred previous years.