Fitch downgrades Greece to CC from CCC

FXStreet (Córdoba) - Ratings agency Fitch downgraded Greece on Tuesday from CCC to CC.

Among key drivers Fitch cited:

“The breakdown of the negotiations between the Greek government and its creditors has significantly increased the risk that Greece will not be able to honour its debt obligations in the coming months, including bonds held by the private sector. We now view a default on government debt held by private creditors as probable”.