Fitch Downgrades Greece (WSJ)
Fitch Ratings downgraded Greece’s credit rating to C from triple-C Wednesday after confirmation of the country’s second bailout package, which includes a debt exchange that will force bondholders to take a loss on their holdings of Greek debt. “The rating action is in line with Fitch’s statement on 6 June 2011, which outlined its rating approach to a sovereign-debt exchange,” the ratings company said.
Fitch Ratings on Wednesday downgraded the credit of five Spanish regions, including the powerhouse of Catalonia, warning they will struggle to cut deficits in a weak economy. ||| Fitch Ratings on Wednesday downgraded the credit of f... Read Post
Greece was hit with another financial headache Friday after Fitch Ratings slashed its credit rating on the country's debt because of concerns about the government's ability to get a handle on its debt mountain, Reuters reported. Read Post