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:
  • 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
    "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 - 12:38 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 ...
    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
  • 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 - 9:01 am | View Link
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