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 just cut the long-term credit rating for Greece from B- to CCC. The ratings agency says the downgrade comes on fear that Greece won't be able to stay in the eurozone: The downgrade of Greece's sovereign ratings reflects the he... Read Post
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