Fitch downgrades Greece, will reassess after debt swap
   
Quotes

Fitch downgrades Greece, will reassess after debt swap

Last Updated: Wednesday, February 22, 2012, 19:08
 
 Comment 0
 
Fitch downgrades Greece, will reassess after debt swap
Athens: 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 bailout.

"The exchange, if completed, would constitute a 'distressed debt exchange'," Fitch said.

When the bond swap plan is completed Greece's rating will drop further to 'restricted default' and then will be re-rated again "at a level consistent with the agency's assessment of its post-default structure and credit profile," Fitch said.

Bureau Report


First Published: Wednesday, February 22, 2012, 19:08


Comments


comments powered by Disqus
Mahindra New Thar CRDe
Mahindra New Thar CRDe
New Generation Scorpio
New Generation Scorpio
BRICS SUMMIT Ufa
BRICS SUMMIT Ufa
New Vento 2015
New Vento 2015
Audi all-new SUV Q3
Audi all-new SUV Q3

Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved