On Friday, the rating agencies upgraded the ratings on sovereign national debt two countries suffering from the recession in the Eurozone. Standard & Poor’s raised its long-and short-term sovereign credit ratings in foreign and national currency to the level of Spain with BBB-/A-3 BBB/A-2 due to improving economic prospects. S & P argues that the outlook remains stable.
At the same time, Fitch Ratings upgraded the sovereign credit rating of Greece to B from B – , also with a stable outlook . The agency noted that the improvement in fiscal performance and revision of certain restrictions on market access contributes to the flexibility of funding . Greece’s rating is still at ” junk ” level , whereas Spain climbed two notches above