Fitch

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.

The coronavirus pandemic has hit the lower-wage service jobs disproportionately in the U.S. and labor market recovery could persist through 2022, according to Fitch Ratings.

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"Employment recovery is far from complete and largely unequal," the global rating agency said in a statement on Wednesday.

Ljubljana – Rating agency Fitch has affirmed Slovenia’s credit rating at A with a stable outlook, the Finance Ministry said on Saturday, adding that this showed the agency acknowledged Slovenia’s strong institutional structure, focus on human development and a credible policy framework supported by EU membership.

Inflation in Turkey is estimated to decline to 15.5% this year and 12% next year, the global rating agency Fitch Ratings said on June 10.

Interest rate is expected to be 17% at the end of 2021 and 13.5% at the end of 2022, according to a webinar titled "Fitch on Turkey: A Sovereign and Financial Institutions Overview".

Maribor – Ratings agency Fitch has upgraded the long-term credit risk for NKBM, Slovenia’s second largest ban, from BB+ to BBB- with a stable outlook, citing the completion of the merger with Abanka, firm capital position and low share of non-performing loans.