Fitch Ratings kept the Greek economy rating unchanged, holding the Greek credit steady at “BBB-” with a “stable” outlook. The American rating agency had granted us the coveted investment grade last December.
About six months later, it would have been difficult for the agency to make a new positive revision, as it is common practice for international agencies to wait at least a year before the next upgrade. Although Fitch, in its new assessment, once again recognizes the progress the economy has made.
Maintaining the rating at the same levels is not a negative development, just neutral. Especially in a period when the European economy is under pressure overall from ongoing geopolitical upheavals, persistent inflation, and high ECB interest rates.
