Fitch upgrades one notch rating of Greece – The Point

The Fitch rating agency has raised the rating of the debt of Greece, Tuesday, after the agreement between Athens and EU institutions paying a third aid package. Fitch upgraded to “CCC” instead of “CC” the rating of long-term debt of Greece, saying that the agreement of 14 August has reduced “the risk of a Greek default on its obligations Sector private. “

The aid plan with a reform program which provides for payment of a first tranche of more than € 20 billion” this week “,” would relieve tension in recent months that weighed on cash and cover repayment of 3.2 billion euros due on August 20 “the European Central Bank, the rating agency wrote. She stresses, however, that “the risk that the program fails to remain high.” “It will take time to restore confidence between Greece and its creditors,” said Fitch also adding that “the Greek political situation remains unpredictable.”