Fitch upgrades Greece’s credit outlook to positive

By DEMETRIS NELLAS
Associated Press

ATHENS, Greece (AP) — Credit ratings company Fitch has revised Greece’s outlook to positive from stable, although it kept the country’s rating at BB, two notches below investment grade. Fitch says the economy grew faster than forecast in 2021 and growth will continue to be strong in 2022 and 2023. Pandemic-related support has kept the budget deficit from falling further and bad bank loans, although significantly reduced, are still very high, impacting the country’s rating. Greece hopes to achieve investment-grade rating, which it hasn’t had since 2010, by 2023.