Fitch raises Greece credit grade from 'CC' to 'CCC'

Fitch raises Greece credit grade from 'CC' to 'CCC'

Fitch Ratings has upgraded Greek debt to "CCC" from "CC".

This ratings boost comes as the embattled country is expected to begin a third European bailout program after ministers agreed to the framework for a new deal last week.

However, Fitch also stated that "It will take some time for trust to be restored between Greece and its creditors, which increases the risk of delayed programme reviews.

"Meanwhile, the political situation in Greece remains unpredictable."

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