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 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. Fitch Ratings-London-09 March 2012: Fitch Ratings has downgraded Greece's Long-term foreign and local currency Issuer Default Ratings (IDRs ...
    03/9/2012 - 9:10 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 ...
    03/7/2012 - 11:00 pm | View Link
  • Fitch Downgrades Greece
    All three big ratings agencies -- Fitch, Moody's and Standard & Poor's -- downgraded Greece in July when an initial debt swap plan was unveiled and have ... He added that the current process of downgrades was largely procedural, following the path laid ...
    02/22/2012 - 9:27 am | View Link
  • FITCH DOWNGRADES GREECE: 'Default Is Highly Likely In The Near Term'
    The action follows news that European leaders agreed on terms allowing for Greece to receive its second bailout. Fitch's action is tied to the terms of the Greek sovereign debt swap. Here's what they wrote: In Fitch's opinion, the exchange, if completed ...
    02/22/2012 - 5:37 am | View Link
  • Fitch downgrades Greece on debt swap plan
    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 ...
    02/21/2012 - 10:59 am | View Link
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