Fitch’s staying put on Greek rating not behind stock drop, experts say

The latest Fitch report that saw Greece's debt rating remain unchanged at BB- and the outlook stable did not rattle the markets and, despite appearances, was not to blame for Monday's 3.83 percent dive by the benchmark of the Athens stock market.

According to bankers and economists contacted by Kathimerini, Fitch's evaluation was expected, since it already rates Greece higher than the other main rating agencies. Thus, the stock market's performance is attributed to the volatility in international markets.

In fact, they remark, an upgrade for Greek debt is just a matter of time, since prospects for the economy appear brighter and Greek bond yields will continue to drop.

In keeping its credit rating unchanged, Fitch remarked that it is too early to evaluate the performance of the newly elected government. It added that its agenda could boost Greece's recovery but...