Fitch Downgrades Greece On Debt Swap Plan

Greece Bailout

ATHENS (Reuters) - Fitch cut Greece's long-term ratings on Wednesday to its lowest rating above a default, becoming the first ratings agency to make the widely expected downgrade after the country announced a bond exchange plan to ease its massive debt burden.

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BING NEWS:
  • Fitch’s Downgrades Greece to “Restricted Default” After Bond Swap
    While some investors indicated they will sue, Greece said it didn’t care and German Finance Minister Wolfgang Schaeuble said, “The agreement with private creditors on the Greek debt swap is a big step towards stabilization and consolidation to a ...
    03/9/2012 - 11:00 am | View Link
  • Fitch downgrades Greece to restricted default
    ... agency has downgraded Greece to "restricted default" after the country secured a strong majority of private creditors to participate in a bond swap deal that will wipe off about euro105 billion from its national debt. Friday's move was expected ...
    03/9/2012 - 2:28 am | View Link
  • Fitch downgrades Greece to restricted default
    "A window of opportunity is opening" with the success of the deal to reduce the country's euro368 billion debt by euro105 billion, or about 50 percentage points of gross domestic product, he said. The bond swap is a radical attempt to pull Greece out of ...
    03/9/2012 - 12:38 am | View Link
  • FITCH DOWNGRADES GREECE TO 'RESTRICTED DEFAULT'
    Fitch said it will raise Greece's issuer rating from "RD" after its debt swap has been completed on March 12. Here's the full release: Fitch Downgrades Greece to 'Restricted Default' from 'C' Ratings Endorsement Policy 09 Mar 2012 10:07 AM (EST ...
    03/8/2012 - 11:00 am | View Link
  • Fitch downgrades Greece on debt swap plan
    It said Greece would be designated as having technically defaulted after the bond exchange is formalized, but the new bonds would be give and new rating. All three big ratings agencies -- Fitch, Moody's and Standard & Poor's -- downgraded Greece in July ...
    02/22/2012 - 8:58 am | View Link
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