Fitch upgrades Greece to CCC from CC

FXStreet (Córdoba) - Fitch Ratings upgraded Greece by one notch to ‘CCC’ from ‘CC’ on Tuesday. Greece country ceiling has been raised by one notch to 'B-' from 'CCC’.

Among key drivers, Fitch noted that the August 14th agreement reached between Greece and the European Institutions on the framework for a third official bailout programme has reduced the risk of Greece defaulting on its private sector debt obligations.