Today, Fitch confirmed that Greece has a stable outlook, regarding its international bond market return. However, political and economic hazards remain, and it is uncertain how sustainable market admission will pan out.
One of the world's leaders in credit ratings and research, the firm has graded Greece with a B- rating. Friday's Fitch statement regarding the nation proclaimed, "The generation of a primary surplus a year ahead of schedule in 2013 is a key measure of Greece's enhanced ability to pay its way since restructuring its sovereign debt in 2012. Regaining market access has been a key objective of the Greek programs and Thursday's issue was heavily oversubscribed. But its success does not guarantee that Greece will have made a sustainable return to market funding by the time the current program ends later this year. Market funding at around 5 percent is more expensive than the average annual cost of [creditors'] funds of 2 to 3 percent".
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