Fitch Ratings said on Monday that it saw a lower risk of a disorderly Greek debt default and exit from the euro area following the narrow victory for the pro-bailout New Democracy party in Greek parliamentary elections on Sunday.

The conservative leader of New Democracy, Antonis Samaras, will now try to form a new government after edging out the radical leftist anti-bailout party SYRIZA, causing relief across the euro zone. SYRIZA had vowed to tear up the 130-bn euro rescue agreement with the European Union and International Monetary fund.

"A new government that is supportive of the EU-IMF programme is likely to be in place prior to the EU Leaders Summit on 28-29 June," Fitch said in a statement.