Reuters
May 20, 2011
Greece said on Friday the decision by Fitch to downgrade its bonds ignored additional commitments to meet fiscal and privatisation targets.
"It overlooks the additional commitments already undertaken by the Greek government to meet its 2011 fiscal targets and speed up its privatisation programme," the Finance Ministry said in a statement.
It said the rate cut by three notches to B+ seemed to be influenced by "intense rumours" in the press at a time when Greece's programme was being assessed by its lenders.
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