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.

  • Spain education sector hit by strike against cuts
    Thousands of students and teachers staged a strike across Spain on Thursday to protest government austerity measures and a planned new education reforms. More
  • In Germany, a U.S. beer invasion
    Almost 65 years after Allied planes flew Western supplies into blockaded Berlin, a new American import is arriving by air: craft beer. The beer is being flown in as part of a new surge of German interest in American brewing, upending a centuries-old relationship in which German beer defined the golden standard for brewing and Americans emulated it. More
  • Cyprus parliament approves bailoutCyprus parliament approves bailout
    Cyprus' lawmakers approved on Tuesday a multi-billion bailout agreement with international creditors aimed at preventing the crisis-hit country from going bankrupt. More
  • Baby food shortage in Europe due to China demandBaby food shortage in Europe due to China demand
    Yong-Hee Kim still can't believe that in a prosperous country like Germany, powdered baby formula would ever be rationed and that she would have to scour shops in the German capital to find the right brand for her 13-month-old son. More
  • Swedish police find drugs on Bieber tour busSwedish police find drugs on Bieber tour bus
    The latest chapter in Justin Bieber's European tour escapade was added Thursday when Swedish police said they had found drugs and a stun gun on the pop singer's bus. Lars Bystrom, spokesman for the Stockholm police, told The Associated Press a small amount of drugs and a stun gun were discovered during a search of the bus, which had been parked under the Globen concert venue in Stockholm, where Bieber was performing Wednesday. More
  • Debt deals and downgrades: Fitch sours Greek bondholder deal
    The same week, Standard & Poor's cut Greece's long-term ratings to “selective default” after Athens initially announced the bond swap plan. The Fitch downgrade stands in stark contrast to a debt deal which Germany’s finance ministry has called 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 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 ...
    03/8/2012 - 9:10 pm | View Link
  • Fitch downgrades Greece on debt swap deal
    Greek unions have staged fresh protests as the country's parliament debates emergency legislation to implement a eurozone bailout deal and Fitch ratings says the country is close to default. Greece, bolstered by a hard-won 237bn euros ($310bn) rescue ...
    02/22/2012 - 9:05 am | View Link
  • EU debt crisis: Fitch downgrades Greece
    ATHENS — Fitch downgraded Greece on Tuesday to ’C’ from ’CCC’, a move widely expected after the country said it may enforce losses on bondholders who do not voluntarily sign up to a debt swap plan accompanying its EU/IMF-approved bailout.
    02/21/2012 - 10:22 pm | View Link
  • More
  • European debt crisis
    The European debt crisis erupted in the wake of the Great Recession around late 2009, and was characterized by an environment of overly high government structural ...
    10/22/2016 - 5:09 am | View Website
  • Euro | Forex Blog
    It’s deja vu all over again in the forex markets as another twist in the sovereign debt crisis has sent the euro tumbling by the greatest margin in nearly a year.
    10/21/2016 - 5:49 pm | View Website
  • Business News, Personal Finance and Money News
    Find the latest business news on Wall Street, jobs and the economy, the housing market, personal finance and money investments and much more on ABC News
    10/21/2016 - 2:00 pm | View Website
  • Economy of Greece
    The economy of Greece is the 46th largest in the world with a nominal gross domestic product (GDP) of $195.2 billion per annum. It is also the 52nd largest in the ...
    10/20/2016 - 8:49 pm | View Website
  • euro-zone debt crisis |
    period of economic uncertainty in the euro zone beginning in 2009 that was triggered by high levels of public debt, particularly in the countries that were grouped ...
    10/20/2016 - 2:01 pm | View Website
  • More

Comment On This Story

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More World News