fitch cuts rating for 4 greek banks to restricted default
Last Updated : GMT 06:49:16
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Last Updated : GMT 06:49:16
Arab Today, arab today

Fitch cuts rating for 4 Greek banks to 'restricted default'

Arab Today, arab today

Arab Today, arab today Fitch cuts rating for 4 Greek banks to 'restricted default'

Fitch Ratings agency
Washington - Arab Today

Fitch cut its ratings on four major Greek banks to "restricted default" on Monday after the government ordered commercial banks closed for a week and established capital controls.

"The ratings reflect exceptionally high levels of credit risk, because of the imposition of capital controls as well as poor recovery prospects in the event of the default on senior debt obligations," Fitch said.

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fitch cuts rating for 4 greek banks to restricted default fitch cuts rating for 4 greek banks to restricted default

 



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