Fitch cut Greece to ‘CCC' amid political turmoil

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Source: Marketwatch
Fitch Ratings announced on Thursday that it downgrades Greece's credit rating from B- to CCC, meaning that the country is highly vulnerable and dependent on favorable economic environment to meet its obligations. The agency cited that strong opposition to budget cuts and failure to form the government increased risk of possible Greece exit from the Euro Zone. In case Greece leaves the single currency union, the country is likely to default on its financials commitments.


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