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BREAKING NEWS

Greek debt rating status upgraded

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Greek debt rating status upgraded

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The credit agency Fitch has upgraded Greece to B-minus with what it called a “stable outlook.” It is the first of the agencies to make the widely expected move.

It follows Greece’s successful private debt swap which saw a 96 percent participation from lenders, cutting the country’s debt by about a 100 billion euros.

While it is an improvement for Greece, the agency considers the risk of default still remains.