Fitch cuts Greece, warns against ‘re-profiling'

[xchrom]

http://www.marketwatch.com/story/fitch-cuts-greece-warns-against-re-profiling-2011-05-20

LONDON (MarketWatch) — Fitch Ratings lowered Greece’s credit rating further into junk status Friday, and warned it would consider any attempt to extend the maturities of Greek sovereign debt to be a default.

The agencv cut Greece’s long-term rating to B-plus from BB-plus and placed all ratings on Rating Watch Negative, citing the scale of the nation’s fiscal task as it attempts to achieve solvency and provide a foundation for economic growth.

The move comes on growing speculation — and a widening rift among European policy makers — over some type of restructuring of Greece’s sovereign debt.

The euro /quotes/comstock/21o!x:seurusd EURUSD -1.0834% extended a loss against the dollar to change hands at $1.4174 in recent action, a drop of 1% from Thursday.






me: i do believe that fitch has no sense of irony.

[marmar]

1. Nations' fates are in the hands of ratings agencies.......

The Banksters are going to be the end of us.

[xchrom]

2. indeed. we are looking at the demise of the nation state. nt

[blindpig]

3. Fuck those people.

Why should a handful of rich assholes be able to inflict suffering on an entire people, or anybody?

Capitalism only makes sense to the Capitalists and their dogs.

[ProgressiveProfessor]

4. The crux of the matter is if the raters are honest and independent

If they are really acting like Consumer Reports on such securities it one thing. If they are spinning things for the benefit of others, that is another.

[Hannah Bell]

5. no, the crux of the matter is as bp said.

[Starry Messenger]

6. recommend.