Saturday, March 28, 2015

Fitch sees more black for Greece: Review of two steps down – Neue Zürcher Zeitung

LONDON (awp international) – The pressure on Greece is growing: The US rating agency Fitch lowered late Friday their perception of the creditworthiness of euro-area country by two notches to “CCC”. Even before that were Greek bonds According to experts, the only suitable for speculators (“junk”). Now, this should also be additionally particularly optimistic about the further course of things.

Fitch founded the gradation with the lack of access of Greece to the capital market, the uncertain prospects for timely payment of state institutions and the tight liquidity situation the domestic banking sector. All this has set the funding situation of the Greek government under extreme pressure.

At other euro-countries, Fitch expressed, however, much more positive. Thus, the experts confirmed the assessment of Portugal, Slovenia and Lithuania. Erstgenanntem beckons even an upgrade because the agency changed the outlook of the currently at “BB +” rating standing on “positive”. The rising employment, higher disposable incomes, low interest rates and improved confidence likely to Portugal create that economic growth this year of 1.5 percent. In addition, the recovery of the euro zone and the weakness of the euro should support the export of the country. / He


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