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Economy
In reply to the discussion: STOCK MARKET WATCH -- Friday, 23 May 2014 [View all]xchrom
(108,903 posts)25. FITCH RATINGS AGENCY UPGRADES GREECE 1 NOTCH
http://hosted.ap.org/dynamic/stories/E/EU_GREECE_RATINGS_UPGRADE?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2014-05-23-02-03-31
ATHENS, Greece (AP) -- Fitch ratings agency has upgraded Greece's sovereign debt rating by one notch, citing the country's improved deficit figures.
Although still deep in junk status, Friday's upgrade on Greek bonds, from B- to B, was a boost for the country that has been struggling through a devastating financial crisis for the past four years.
The move comes two days before Greeks vote in local, regional and European elections that the left-wing main opposition party has painted as a referendum on Greece's international bailout.
Fitch cited the country's achievement of a primary surplus - the budget balance excluding interest on outstanding debts - and described its deficit reduction over the past four years as "remarkable."
ATHENS, Greece (AP) -- Fitch ratings agency has upgraded Greece's sovereign debt rating by one notch, citing the country's improved deficit figures.
Although still deep in junk status, Friday's upgrade on Greek bonds, from B- to B, was a boost for the country that has been struggling through a devastating financial crisis for the past four years.
The move comes two days before Greeks vote in local, regional and European elections that the left-wing main opposition party has painted as a referendum on Greece's international bailout.
Fitch cited the country's achievement of a primary surplus - the budget balance excluding interest on outstanding debts - and described its deficit reduction over the past four years as "remarkable."
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