BUSINESS

Fitch: Program review underpins Greek sovereign assessment

TAGS: Economy

Recurrent tensions between Greece and its official sector creditors are already reflected in Greece’s sovereign rating, which has been at or below CCC for nearly two years, Fitch Ratings said on Monday.

“Our sovereign credit assessment is underpinned by our assumption that the second review of Greece’s third bailout program will be completed well ahead of July, maintaining access to official funding,” the rating agency stated, commenting that “the current standoff appears to be driven more by the inter-creditor disagreement.”

Fitch’s next scheduled review of Greece’s rating is due on February 24.

[Reuters]

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