Fitch raises sovereign-credit rating for Greece

05/15/2013 | Reuters

Fitch Ratings upgraded Greece's sovereign-credit rating citing its progress in reining in its budget deficit and the diminishing risk of it leaving the eurozone. "The price has been high in terms of lost output and rising unemployment and the capacity for recovery is still in doubt," Fitch said. "Nonetheless, sovereign debt relief and an easing of fiscal targets have lifted central bank measures of economic sentiment to a three-year high and the risk of eurozone exit has receded."

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