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Fitch rating agency declares Greece has defaulted.

Fitch ratings agency declared Greece would be in temporary default as the result of a second bailout, which Athens said had bought it breathing space.

But the agency pledged to give Greece a higher, "low speculative grade" after its bonds had been exchanged and said Athens now had some hope of tackling its debt mountain, which most economists still expect to force a deeper restructuring in the future.


More here:

http://www.reuters.com/article/2011/07/23/us-eurozone-idUSTRE76I5X620110723
 

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