Fitch has upgraded Greece’s credit rating after a year of massive growth, especially in the tourism sector. Credit: Greek Reporter/Alex BesantCredit ratings company Fitch bumped Greece’s credit outlook from stable to positive on Friday. The country’s rating remains at BB, which is two ranks below investment grade.
Fitch estimated in its new report that Greece’s economy grew 8.3% in 2021, almost double the 4.3% forecast the company had given it in July.
The company also cited Greek banks as a key motivator for the upgrade, writing that Greek banks “sharply reducing the level of non-performing loans.. and enhancing their ability to provide credit to the real economy.”
