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.

RELATED ARTICLES
  • 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
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
    "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 - 2:28 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
  • 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 - 8:49 am | View Link
  • More
BING SEARCH:
  • Money As Debt 2
    Original title: Promises Unleashed Zionist attack on western civilization: http://www.mediafire.com/view/?dbb25a... Reed Douglas, The controversy of Sion ...
    07/10/2014 - 11:52 am | View Website
  • Greek government-debt crisis
    Overview . The downgrading of Greek government debt to junk bond status in April 2010 created alarm in financial markets, with bond yields rising so high, that ...
    07/10/2014 - 6:09 am | View Website
  • Economy of Greece
    The economy of Greece is the 42nd or 49th largest in the world at $249 billion or $289 billion by nominal gross domestic product or purchasing power parity ...
    07/9/2014 - 8:43 pm | View Website
  • India
    The latest India and international business, finance, economic and political news, comment and analysis from the Financial Times on FT.com
    07/9/2014 - 5:59 pm | View Website
  • European Sovereign Debt Crisis: Overview, Analysis, and ...
    European Sovereign Debt Crisis: Overview, Analysis, and Timeline of Major Events
    07/9/2014 - 5:01 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