Fitch downgrades Greece again. This time from BB + to +. According to the Agency's downgrade reflects the extent of possible problems facing the country to return to the path of economic growth.
As reported by the MEDIA, Fitch priâlo into account the increased risks associated with plans to further reduce the budget deficit. At the moment, the gap between income and expenditure of the Republic is still quite large, reaching from last year 10.5% of GDP against planned 9.4%.
At the same time, even top in + reflects the opinion of analysts of Fitch that Greece will continue to receive financial assistance from the EU and IMF. In addition, rating b + assumes that the possibility of debt restructuring, which has recently been a lot written media will remain nothing more than rumours. Otherwise, the Agency does not preclude further downgrading until defoltnogo.
Posted May 20, 2011
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