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GreekReporter.comGreek NewsEconomyFitch Downgrades Greece To "B+", Rating Watch Negative

Fitch Downgrades Greece To "B+", Rating Watch Negative

Fitch Ratings has downgraded Greece΄s long-term foreign and local currency Issuer Default Ratings (IDR) to “B+” from “BB+” and the Short-term IDR remains at “B”. All three ratings have been placed on Rating Watch Negative. Fitch said the rating factors in expectations substantial money will ultimately be provided by the EU and IMF and that Greek debt won’t be subject to a “soft restructuring” or a “re-profiling.” Fitch said it would consider such moves a default and that Greece and its obligations would be rated accordingly.

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