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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    On that issue, Fitch says, “the agency believes that the costs would far outweigh the benefits, yet the patience of Greece’s eurozone partners is finite.” The only thing the Greek debt swap really accomplished is to kick the can down the road for ...
    04/3/2012 - 2:20 am | View Link
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    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 ...
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  • Fitch Downgrades Greece
    He added that the current process of downgrades was largely procedural ... for Greece on Tuesday to avert a messy default, including a bond swap to shave 100 billion euros off Greece's debt burden. Bondholders will take losses of 53.5 percent on the ...
    02/22/2012 - 9:01 am | View Link
  • Fitch downgrades Greece, will reassess after debt swap
    ATHENS, Feb 22 (Reuters) - 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 ...
    02/21/2012 - 11:00 am | View Link
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