It is the fourth house to be considered by the European Central Bank, having been preceded by Scope Ratings in August, DBRS in September and S&P in October.
The credit rating agency Fitch gave Greece an investment grade, upgrading its credit rating to BBB- with stable outlook from BB+ .
It is the fourth house taken into account by the European Central Bank, which classifies Greek bonds as investment grade, as they were preceded by Scope Ratings in August, DBRS in September and S&P in October.
Fitch is also the second of the big three US ratings agencies, after S&P, to give it an investment grade and this will allow more institutional investors to buy Greek bonds, thus increasing capital inflows and further contributing to contain the borrowing costs of the Greek government and businesses.
The main drivers for the upgrade, according to Fitch's announcement, are the favorable dynamics of the Greek debt reduction, commitment to fiscal adjustment, sustainable growth, policy continuity and improvement of the banking system.