Greek bond yields fall after Fitch ratings upgrade

TAGS: Finance

Greek government bond yields fell in early trading on Monday after a ratings upgrade from Fitch that highlighted improving sentiment towards the indebted southern European state.

The ratings agency upgraded Greece’s long-term foreign-currency issuer default rating to "B" from "B-" and kept its outlook positive.

Fitch said general government debt sustainability would improve on sustained economic growth and reduced political risks.

Greece’s five-year bond yield was down 5 basis points at 3.395 percent early on Monday, outperforming eurozone peers.  [Reuters]