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Fitch upgraded Greece rating by one level
23 May 2014

Fitch upgraded the sovereign rating of Greece to 'B' level, referring to improved economic and financial prospects of the country.

"Short-term Issuer Default Rating affirmed at B level, the rating outlook is" stable", was reported by Fitch.

The decision to raise the rating reflects the efforts made by the Greek government to eliminate the budget deficit and the prospects for economic growth, which appeared for the first time since 2008.

S&P and Moody's currently set Greece's rating at "B-" and "B3" levels respectively. S&P confirmed Greek ratings on 21 March, 2014 with a "stable" outlook. As previously reported, Moody's upgraded the credit rating of Greece and Piraeus Bank Group: