Greece may have its credit rating reduced to non-investment grade by Fitch Ratings within six weeks after a review of the nation’s “fiscal sustainability” (Bloomberg/Sydney Morning Herald, 22-Dec-2010). The assessment will focus on government measures to lower the budget deficit, the economic outlook and the “political will and capacity of the Greek state” to enact austerity measures. Greece is rated BBB- at Fitch, its lowest investment-grade rating. Fitch stated there is a “heightened probability” of a downgrade.
22-Dec-2010 12:50 PM