Fitch Affirms Greece at BBB With Stable Outlook
by Bill Giannopoulos · Greek City TimesFitch Ratings has affirmed the Fitch BBB rating for Greece with a stable outlook, closing the scheduled 2026 sovereign review cycle late on Friday evening.
On the agency’s Greece page, the long-term foreign-currency issuer default rating stays at BBB. Fitch left the outlook stable.
That decision keeps Greece one notch above the investment-grade floor. Greece also remains inside investment grade after sharper debt cuts and large budget surpluses.
Fitch said strong fiscal results, prudent policy and resilient growth strengthened fundamentals. Those forces sped up the fall in public debt.
Read more: Greece Makes €2 Billion In Savings With Early Debt Repayment
What supports the Fitch BBB rating
In its latest assessment behind the Fitch BBB rating, Fitch put general government debt at 146.1 per cent of GDP in 2025. It expects the ratio to fall to 124.6 per cent by 2028.
Large primary surpluses, solid nominal growth and early loan repayments drive that path. Fitch also expects Greece’s debt ratio to slip below Italy’s by the end of 2026.
Funding risks stay limited, because average debt maturity is about 19 years and most of the stock carries favourable fixed rates. In particular, the cash buffer is forecast near 12 per cent of GDP in 2026.
Greek City Times reported that S&P kept Greece at BBB in October. That review also flagged falling debt and still-high external imbalances under a stable outlook.
However, the Fitch BBB rating still closes a positive year for Greece’s credit standing. Attention now turns to 2027, when investment and fiscal discipline could lift the grade further.
Other agencies this year
Earlier in 2026, Scope Ratings raised Greece to BBB+. Moody’s held Baa3 and DBRS Morningstar held BBB. Both of those houses lifted their outlooks to positive, as Greek City Times reported in September.
The Public Debt Management Agency tracks those scores on its credit table. Investors still watch the current-account gap, which Fitch puts near 6.5 per cent of GDP in 2026.
Greece would still need faster debt cuts and stronger structural growth into 2027 for an upgrade. For now, the ratings firm keeps the Fitch BBB rating on a stable stance.
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