Fitch Downgrades Greece Amid Bailout Uncertainty
The ratings agency Fitch has downgraded Greece’s sovereign rating amid growing uncertainty over the new government’s pledge to overhaul reforms needed to restart bailout loan payments and avoid default.
The agency late Friday said it had lowered the country’s rating deeper into non-investment-grade status, from B to CCC, citing “extreme pressure on Greek government funding.”
Rescue lenders were expected to review reforms overhauled by Prime Minister Alexis Tsipras’s new left-wing government over the weekend.
The new government has promised to ax austerity measures.
This article appeared in print in edition of Hamodia.
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