Fitch cuts Greece's rating after debt swap deal

The Global Ratings Agency Fitch has cut Greece's rating to 'restricted default' over debt swap deal, Reuters reports.


Greece meet bailout conditions

Greece's credit rating has been downgraded by the rating agency Fitch to "Restricted Default" after 85% of private investors holding Greek bonds agreed to a cut in their value. It means conditions are now in place for it to receive a £110bn bailout.