Finance Minister Kyriakos Pierrakakis says Fitch’s move to lift Greece to BBB reflects clear progress in growth, debt reduction, and fiscal credibility and signals lower borrowing costs and stronger investment ahead

Fitch also upgraded Piraeus’ senior preferred debt rating by one notch to “BBB-” from “BB” and its Tier 2 subordinated debt rating to “BB” from “BB-.”

Fitch Ratings outlines both the strengths and weaknesses of Greece’s economy in its new analysis for Europe, ahead of its next credit rating review. According to the agency, Greece’s current credit rating reflects its relatively high GDP per capita and governance indicators, which are above the median ‘BBB’ level, as well as its policy credibility, […]

The driver behind the decision, according to the international credit ratings agency, were a budget surplus of 1.3% of GDP in 2024 and a primary budget surplus of 4.8%

Fitch Ratings Agency upgraded the four systemic Greek banks in its latest report. The National Bank of Greece (NBG) and Eurobank lead the way, as their ratings were raised to “BBB-” from “BB+” with a stable outlook. Meanwhile, Alpha Bank and Piraeus Bank were upgraded to “BB+” from “BB,” with a positive outlook. NBG’s upgrade reflects […]

Fitch Ratings: Greece's ratings are supported by income per capita levels above and governance indicators in line with the 'BBB' median

Under Fitch’s baseline scenario, it projects that the public debt-to-GDP ratio will decrease by more than 50 percentage points by 2026

Data shows that Greece’s dependence on Middle Eastern oil is the highest among developed economies, as is its reliance on exports to the Middle East and North African region.

Fitch cited Greece's ratings reflect income per capita levels and governance indicators that are well above the 'BBB' median, as well as policy credibility supported by EU and eurozone membership

The increase in private consumption accelerated faster than anticipated, rising by 1.4% quarterly in the last quarter of 2023, while exports also provided an upward surprise, recording a 0.4% increase

The German mass media outlet includes statements from Greek PM Kyriakos Mitsotakis, who said the country has turned a new chapter, and that despite whatever standing problems, "is now a dynamic, outward-looking destination for investors, with a strong voice in the heart of the EU and with an economy experiencing an unprecedented revival.”

Fitch Ratings on Thursday revised, upwards, its outlook four Greece’s four systemic banks – Alpha Bank, Eurobank, National Bank of Greece (NBG) and Piraeus Bank – to positive from stable. The development comes after the ratings firm upgraded Greek state bonds to investment grade earlier this month. All issuer and debt ratings were affirmed, namely, […]

Fitch sees the ECB announcing a reduction, by 75 basis points, in rates as of June 2024, and dropping to 3.75 percent by the end of 2024

The upgrade reflects key rating drivers and their relative weights, such favorable debt dynamics and a commitment to fiscal consolidation