Fitch downgrades Greek IDRs three notches to CCC, sees damage to recovery

PMI rises to 50 points in September, signalling stabilisation 10 hours ago
BoG sees 7.5 pct recession, EU funds boosting GDP by 1.9 pct annually 23/09/2020 - 11:20
Greece draws strong interest, attractive yield by re-opening 10-year bond 03/09/2020 - 11:07
Fitch keeps rating at 'BB', sees GDP contraction of 7.9 pct in 2020 27/07/2020 - 11:58
OECD releases new outlook calling for sustained reforms post Covid-19 22/07/2020 - 14:09
BoG highlights how Covid-19 compounds legacy issues and structural challenges 30/06/2020 - 12:03

Fitch downgrades Greek IDRs three notches to CCC, sees damage to recovery

Economy 28/03/2015 - 12:57 Tags: Ratings

In an unexpected move on Friday evening, Fitch Ratings downgraded Greece’s long-term Issuer Default Ratings (IDRs) by three notches to ‘CCC’ from ‘B’.

The scheduled rating review was on May 15. However, Fitch believes that developments in Greece warrant a deviation from its calendar.

You need a subscription to access our analysis. Please choose one of the packages available.

If you are already registered, please sign in.

Full Access

A tailor-made service for professionals

Apart from having access to all our analysis and data, subscribers will be able to consult one-on-one with our analysts.

Free Access

Read some of our analysis for no charge

By signing up to MacroPolis, readers will be able to read two of our articles without charge each month. They will not have access to our data or weekly e-newsletter.

Standard Access

Our analysis and data at your fingertips

Subscribers will be able to read the full range of our articles, access our statistics and charts, and receive our weekly e-newsletter for €450 per year.

€480.00

Free Mobile Apps

Update to the latest version of the MacroPolis Apps. Access all of our daily analysis, as well as our weekly e-newsletters, at your fingertips.

Tweets by @MacroPolis_gr

You have to in order to view this content.

Most Popular

Athens "Great Walk" plan scaled back amid criticism 24/09/2020 - 13:00
Greek housing market at new juncture as Covid-19 shakes foundations 28/09/2020 - 11:29
High hopes for Pompeo visit as new row brews over media handouts 28/09/2020 - 10:22
EastMed, defence and energy dominate Pompeo's visit, leaving Athens satisfied 30/09/2020 - 09:32
EU migration pact meets with lukewarm reception in Athens 29/09/2020 - 15:01

ND clarifies plans for emergency health system capacity as public mood over Covid-19 sours 17/09/2020 - 12:33
Athens "Great Walk" plan scaled back amid criticism 24/09/2020 - 13:00
Greece and Turkey prepare for exploratory talks brokered by Germany 21/09/2020 - 09:49
Defence spending, economic support plans dominate PM's policy speech 13/09/2020 - 20:34

OECD sees Greek economy most at risk from Covid-19, with impact reaching up to 35 pct of GDP 31/03/2020 - 14:21
The first cut is the deepest? Greek pension reforms in context 07/06/2018 - 12:12
The "great replacement" comes to Greece - how a far-right meme appeared in mainstream politics 21/02/2020 - 14:27
Higher Covid-19 numbers spark concern as tourism sees little benefit from visitor arrivals 13/07/2020 - 11:27
Is Greece facing a new migration crisis? 13/09/2019 - 12:38

Greek housing market at new juncture as Covid-19 shakes foundations 28/09/2020 - 11:29
Seventh post-bailout review completed, lenders flag up state arrears and unpaid pensions 24/09/2020 - 10:56
Greek businesses under pressure due to late payments, survey shows 29/09/2020 - 13:47
Apartment prices rise by 4.1 pct in Q2 24/09/2020 - 12:51
Tourism boosted GDP by up to 33 pct in 2019, but low arrivals in 2020 could see economy shrink by 10 pct 23/09/2020 - 12:03

Greek housing market at new juncture as Covid-19 shakes foundations 28/09/2020 - 11:29
GDP falls by 14 pct QoQ in Q2 and by 15.2 pct YoY to reach historic low 03/09/2020 - 13:28
Tourism boosted GDP by up to 33 pct in 2019, but low arrivals in 2020 could see economy shrink by 10 pct 23/09/2020 - 12:03
Seventh post-bailout review completed, lenders flag up state arrears and unpaid pensions 24/09/2020 - 10:56

OECD sees Greek economy most at risk from Covid-19, with impact reaching up to 35 pct of GDP 31/03/2020 - 14:21
The first cut is the deepest? Greek pension reforms in context 07/06/2018 - 12:12
Promises and challenges of Greece's "green new deal" 19/12/2019 - 12:06
Greece grapples with second Covid-19 wave as cases soar 24/08/2020 - 15:00
Greece braces for recession, hopes to bounce back from summer onwards 27/03/2020 - 12:45