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
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