Fitch says medium term debt drop unaffected by Co-op

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Fitch says medium term debt drop unaffected by...
 © BusinessMail 2021
By Stelios Orphanides

Fitch Ratings said that the sale of the Co-op’s operations to Hellenic Bank and the related increase in government debt will not alter the public debt’s reduction over the medium term from this year.

The issue of €3.2bn in government bonds on Friday in favour of the bailed-out lender against an equal amount in government deposits, will result to an increase in the public debt by 16 per cent of gross domestic product (GDP), Fitch said in a statement on its website on Wednesday.

The issue of the bonds was part of the agreement signed by Hellenic Bank and the state-owned...


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Article automatically added to our system on Wednesday, July 18, 2018

Fitch says medium term debt drop unaffected by Co-op


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