Fitch increased the long -term rating of Greece

The Fitch International Rating Agency increased the long -term rating of Greece by one step - from CC to SCS, the agency’s website reported .

Fitch, in addition, increased the ratings of the Greece state bonds in foreign and local currency to the “CCC” level.

According to Fitch analysts, an agreement reached between Greece and creditors under the third assistance program reduced the likelihood of a country's default for private debt obligations.

The agency’s report says that the agreement reached between Athens and the Eurozone countries under the third assistance program reduced the likelihood of Greece default for private debt obligations.

At the same time, analysts emphasize that the restoration of trust between Greece and its creditors will take some time, and this increases the risk of delaying the program. Agency experts consider the political situation in the country unpredictable.

On August 14, the European group approved a new Greece Assistance Program in the amount of € 86 billion, designed for three years. In exchange for this, Athens should carry out the necessary reforms, conduct regular monitoring of the budget status and transfer state -of -50 billion state -owned to a special fund in the management of which the European Commission will take part.

Greece should receive the first tranche under the program this week. This will facilitate the payment of € 3.2 billion by Eurobonds with a repayment period on August 20 and paying for a loan of a European financial stabilization mechanism with a maturity in September.