Fitch ratings agency upgraded Greece’s credit rating from ‘BB’ to ‘BB-‘, with a positive outlook. As the agency notes, debt sustainability continues to improve, underpinned by a stable political backdrop, sustained GDP growth and a continuing track record of fiscal outperformance against targets.

The upgrade reflects improved prospects, increased stability and boosted confidence in Greece after the July parliamentary elections, said the Greek Finance Ministry in a statement, adding that the effort to rebuild the economy and its sustainable development under conditions of social justice, continues unabated.