Brussels, 05/06/2013 (Agence Europe) - On Monday 3 June 2013, the Fitch credit rating agency downgraded Cyprus's long-term debt by one notch, flagging up “negative prospects”. Fitch was following its competitors, Moody's and Standard & Poors, which downgraded the island's sovereign debt by a notch in March 2013.
Fitch said it took the decision “due to the high implementation risks on the agreed programme and the restructuring of the banking industry”. “Fitch acknowledges that the...