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Fitch Affirms Greece at 'BB-'; Outlook Stable
Fitch Ratings has affirmed Greece's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BB-' with a Stable Outlook. Greece's 'BB-' rating is underpinned by high income per capita levels, which far exceed 'BB' and 'BBB' medians. The profile of Greece's general government debt stock is exceptionally favourable and fiscal performance over the last three years has been stronger than 'BB' rated peers. Governance indicators are also significantly stronger than in most sub-investment-grade peers. These strengths are set against weak medium-term growth potential, extremely high level of non-performing loans in the ... (full story)