Standard&Poor's

Greece seems to be on its way out of the recession after international agency Fitch raised its rating for the country to B from B- with a stable outlook.

Another agency, Standard&Poor's made on Friday a similar move for Spain, another Southern European country severely affected by the debt crisis. Madrid's debt rating is now BBB, up from BBB-, which was just above junk status.

Rating agency Moody's has increased Portugal's rating to Ba2, in a first such move since the debt-ridden country embarked on a bailout program in 2011.