ECONOMY

Fitch upgrades National Bank of Greece’s Program I mortgage covered bonds to B+

Fitch Ratings on Tuesday upgraded National Bank of Greece’s Program I mortgage covered bonds to B+ from B.

The outlook is negative.

The rating action follows the upgrade of Greece’s country ceiling to B+ from B, which was due to the receding risk of Greek exit from the eurozone, coupled with the demonstrable external market access of non-sovereign entities.

[Reuters]