Fitch affirms Greece’s rating to 'CCC'

Market news

14 March 2016

Fitch affirms Greece’s rating to 'CCC'

Rating agency Fitch Ratings on Friday affirmed Greece's sovereign debt rating at 'CCC'.

"Substantial progress has been made towards agreeing the first review of the financial assistance programme with the European Stability Mechanism (ESM) but implementation risks remain," Fitch said.

"The next set of measures agreed with creditors is expected to place greater emphasis on facilitating the workout of non-performing loans and strengthening legal processes and institutions which, if successful, would boost Greece's growth potential," Fitch added.

European Central Bank purchases €12.51 billion of government and agency bonds last week

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