Fitch Ratings affirmed Greece's B- rating on its long-term state bonds, while the outlooks on the long-term IDRs are stable, according to a statement issued on December 2.The credit rating agency said the country’s foreign and local bonds ratings have been affirmed at B- while the short-term country ceiling rating has been upgraded to B+ from B.

In its statement, Fitch said Greece is on course to eliminate longstanding macroeconomic imbalances and there has been no repetition of the protracted delays in EU-IMF disbursements that marred previous years. Fitch expects negotiations with the Troika (EU-IMF-ECB) on the fifth review of the Economic Adjustment Programme (EAP) to reach a satisfactory conclusion by year-end.

Greek News Agenda: Moody’s Upgrades Greek Bonds & Fitch's Ratings Upgrades to B-