Endgame For Greece: Fitch Cuts Rating, And Says Restructuring IS A Default

Power Plant Greece

[credit provider=”Flickr user: Lisa Murray” url=”http://www.flickr.com/photos/mizzmurray/2180690522/sizes/o/”]

So much for a “soft” restructuring that doesn’t have any real effect on anything.Fitch just came out and cut its Long-Term ratings on Greek debt to B+ from BB+.

Perhaps more important though? It said that any restructuring IS a form of default.

The euro has been diving all day on this and the Spain mess.

Click here to see 12 companies that will get hammered in a restructuring >