Fitch publishes report on hypothetical Eurozone country re-denomination

Fitch publishes report on hypothetical Eurozone country re-denomination

-The agency believes a full break-up and demise of the Euro remains highly unlikely, but the risk of a Greek exit is material and rising

-Ratings of entities from the exiting country would reflect the severe adverse effects from recession, inflation, lack of credit, bank deposit and capital controls, and potential social and political instability
Fitch says Portuguese privatisation revenues are to exceed target

- Fitch says the high value of bids for Portuguese state-owned sovereign enterprises announced during Q1 2012 means that asset sales should exceed the sovereign’s target, and is impressive, especially considering both the fragile macroeconomic environment and competing asset sales across the Euro-zon

Fitch downgrades 8 Spanish autonomous communities with a negative outlook

- Fitch placed 8 autonomous communities on RWN on March 9th, and indicated it would resolve the RWN by end May.
- The rating actions reflect the negative economic and market environment in Spain, which has resulted in depressed fiscal revenues, and the structural fiscal deficits of the regional administrations, which will require considerable additional efforts to be reduced, and also the difficulties in long term funding.

 TEXT-Fitch publishes report on Hypothetical Eurozone Country Redenomination
| Reuters

The rest can be found on the Fitch web site : http://www.fitchratings.com/web/en/dynamic/fitch-home.jsp


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