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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  • Fitch’s Downgrades Greece to “Restricted Default” After Bond Swap |
    ... The deal in which Greece forced investors to take 74 percent losses so that the country could write down $134 billion in debt came with a price: being CLOSE Greek news Business Agriculture Banking Energy Media Real Estate Shipping
    03/9/2012 - 11:00 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 - 10:24 am | View Link
  • Fitch Downgrades Greece to 'Restricted Default' After Bond Swap Deal
    The Fitch ratings 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 ...
    03/9/2012 - 5:31 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 ...
    03/9/2012 - 5:10 am | View Link
  • Fitch downgrades Greece on debt swap deal
    to force hold-outs to accept the swap and losses as well. Greece has until the end of February to approve more than three billion euros ($3.9bn) in additional spending cuts and amend the constitution to ensure that debt repayments take priority over other ...
    02/22/2012 - 8:51 am | View Link
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