Hatzidakis greets Greek upgrade by Fitch

Fitch Ratings added itself on Friday night to the list of rating agencies that have reverted Greece to investment grade, raising its sovereign credit rating to BBB- from BB+.

What is more, Fitch said the Greek rating also has a positive outlook, which may well mean a further upgrade is on the horizon.

The move signifies that the majority of the major rating agencies have now reinstated Greece's investment grade after 13 years in "junk status," given that in October Standard & Poor's also upgraded Greece to investment level. That followed similar rating decisions by DBRS Morningstar, as well as Scope Ratings and R&I.

Friday's development has left Moody's as the only major rating agency that has not yet upgraded Greece back to investment grade, as it needs to take the country up one more notch for that.

"The Greek economy's credit rating upgrade by Fitch...

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