Fitch has downgraded Greece’s credit rating by 2 steps at a time, from “CCC” down to “C”. There reason is the scales of the Greek debt restructuring. According to the rating agency, Greece’s debt swap program will make private bondholders face the equivalent of 53.5% of its book value of the loss.
Greece’s credit rating will probably be further downgraded to a "restricted default" when the bond swap is completed.
FOREX.
However, EURUSD seems to be indifferent to the latest events. It keeps developing wave B H1. According to the SRP Department of , the wave pattern is complex. Its forming will probably last at least until the end of today’s European trading session.
