The Fitch rating agency downgraded Greek long-term debt ratings on Tuesday, becouse the outlook for Greek public finances was negative, marking the second such rating blow for Greece in two days. Fitch downgraded Greek long-term debt ratings to BBB+ from A- notation, warning that the outlook was negative because of the prospects for public finances "given the weak credibility of fiscal institutions and the policy framework."
Analysts at Goldman Sachs said the downgrading was "important". Goldman Sachs said that this temporary easing of the quality of bonds acceptable to the ECB was due to last until the end of next year, and that if one of the other main rating agencies, Moody's or Standard and Poor's downgraded Greek debt, there would be a problem.