'...The downgrade follows confirmation of Greece’s second bailout package, which includes debt restructuring that will see bondholders hit with a loss of the country’s government debt.
Creditors face a 53.5 per cent haircut on the value of Greek government bonds under the terms of the private sector involvement exchange offer. Fitch says this means an effective default by Greece is “highly likely in the near term”.'
News Brought to you By:
Gibraltar GX11 1AA
T +350 200 40303
F +350 200 51795
★★★Social Infrastructure Planning and Digital Marketing Services by SEOextraordinaire★★★