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Yields rise, but Greek debt still partly shielded from market headwinds
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Travel receipts reach 8.55 bln up to July, balance of 7.71 bln beats 2019 record
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Moody's, DBRS keep ratings unchanged, leave no doubt that fiscal prudence is key for next moves
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Finance Ministry costs new support package, but questions remain over electricity subsidies
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Industrial production grows by 7 pct in Jul, as manufacturing records monthly drop
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Hiring balance slows in June as job market returns to normal levels
Fitch affirms Greece’s rating at ‘CCC’
In its scheduled review published on Friday evening, Fitch affirmed Greece’s rating at ‘CCC’. It is worth noting that S&P has the highest rating (B-) on Greece, three notches above that of Moody’s (‘Caa3’) and two notches higher than Fitch.
The rating agency commented that the fiscal performance in the course of this year is consistent with the primary surplus target of 0.5 percent for 2016, but the succeeding two years’ fiscal targets will be progressively more difficult to be met.
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