As the ratings agency reports, an environment of weak external demand and tighter monetary policy of the Eurozone will create headwinds for Greek growth in the coming quarters.
About five months after upgrading the Greek economy to BB+ with a stable outlook, one step above investment grade, Fitch Ratings decided on Friday to keep its rating unchanged.
The announcement by the four largest Greek banks of an interest rate cap on performing domestic retail mortgages does not affect the banks’ ratings, Fitch Ratings says. The measure will restrict the benefit to profitability from higher interest rates but will support asset quality by limiting payment pressure on borrowers.