Fitch lowers outlook of Greece's credit rating to stable

Fitch ratings agency has lowered its outlook on Greece's credit rating, from positive to stable, amid the financial impact the coronavirus measures are taking on the country's economy.

In its report issued late Thursday night, the ratings agency did not downgrade Greece's credit rating, leaving it at the BB level it had upgraded it to in January.

Greece has been gradually emerging from a decade-long financial crisis that wiped out a quarter of its economy, and its credit rating is still two to four notches below investment grade for major rating agencies, although it has seen some upgrades. Fitch's lowering of its outlook indicates it is unlikely to upgrade the country's rating again soon.

Greece saw its ratings plunge in 2010, when it was revealed that key financial data had been misreported and the budget deficit would be several times the initial forecast....