Fitch upgrades the rating one notch to 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. “

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