Fitch: Greek access to mkts at bearable rate a worry

LONDON, Feb 26 (BestGrowthStock) – Fitch Ratings’ main worry over
Greece is whether the highly indebted country will have access
to the sovereign debt market at a tolerable rate, a senior Fitch
analyst told Reuters Insider television on Friday.

Fitch director of sovereign ratings Chris Pryce said the
agency’s other concern was that Greek Prime Minister George
Papandreou and his government would lose support of their party.

“The prime worry is will Greeks have access to the sovereign
debt market at any tolerable rate and that’s what we remain
concerned about and that’s what we hope to see settle,” he said.

Fitch Ratings cut Greece’s debt to BBB+ in December with a
negative outlook, the first time in 10 years a major ratings
agency put Greece below an A grade, citing fiscal deterioration
in the euro zone’s weakest member.

“The cost of the funding is an additional worry … the
additional interest the Greek government will have to pay for
its borrowing has already added maybe 1 billion euros to the
cost of interest on the government debt issuer,” he said.

Stock Market Money

(Reporting by Ian Chua and Emelia Sithole-Matarise)

Fitch: Greek access to mkts at bearable rate a worry