Fitch

According to Fitch Ratings, the European Central Bank (ECB) and central banks across the European Union are expected to endure "prolonged losses" due to increased borrowing costs. The credit agency projects that the total loss for the Eurosystem will amount to 160 billion euros from 2024 to 2028, before accounting for provisions, reserves, and taxes.

Türkiye has seen its ratings upgraded by major rating agencies in 2024 thanks to the government's economic program, Finance Minister Mehmet Şimşek said, hailing Fitch's decision to lift the country's rating.

"With our medium-term program, we will make permanent the gains we have achieved in the last year and further increase confidence in our economy," Şimşek wrote on X.

Fitch Ratings has upgraded Greece's 'big four' banks (National, Piraeus, Alpha, Eurobank), giving them all a positive outlook.

Fitch has upgraded four Greek banks.

The agency upgraded Piraeus and Alpha Bank to BB with a positive outlook and National Bank and Eurobank to BB+ with a positive outlook. The latter two are one step away from investment grade, according to the house.

Greek bonds outperformed their eurozone counterparts considerably on Monday, with the 5-year Greek note even matching Spanish paper, having received a boost from Greece's upgrade by Fitch Ratings on Friday night.

Credit ratings company Fitch has raised Greece's credit rating to one notch below investment grade.

In a report issued Friday, Fitch estimates that Greece's deficit will shrink to 1.8% of its gross domestic product in 2024 from an estimated 3.8% last year.

Fitch Ratings on Friday announced an upgrade of Greece's long-term foreign-currency issuer default rating (IDR) to BB+, up from BB. The ratings firm also listed the outlook as "stable".

Frankfurt – Rating agency Fitch has affirmed Slovenia’s credit rating at A with a stable outlook, Fitch said on its website on Friday, adding that this reflected the agency’s expectations of a permanent recovery of the Slovenian economy thanks to the expected increase in investment and continued exports.

Fitch Ratings announced on October 1 that they had affirmed Bulgarian Development Bank AD's (BDB) Long-Term Issuer Default Rating (IDR) at 'BBB'. The Outlook on the Long-Term IDR is Positive.

The BDB reported the news in a press release on Tuesday.

Fitch Ratings affirmed Turkey's credit rating at 'BB-' on Aug. 13 with a stable outlook. 

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"Turkey's ratings reflect weak monetary policy credibility, high inflation, low external liquidity in the context of high financing requirements and geopolitical risks," the global rating agency said in a statement.