- Could raise Cyprus' rating as early as next week.
Reaction details (20:14)
- No movement seen in EUR/USD following this downgrade, as it follows Fitch earlier today and is largely expected.
Analysis details (20:14)
- This follows Fitch earlier who affirmed Cyprus's long-term foreign currency IDR; outlook negative but downgrades their local currency IDR to 'restricted default' from 'CCC'.
- These rating changes are in response to the exchange of a number of domestic law government bonds by the Cypriot government.
28 Jun 2013 - 20:09 - Fixed Income - Source: Newswires
RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: