Fitch to Downgrade Cyprus Again

BusinessEconomy ♦ Published: June 4, 2013; 11:14 ♦ (Vindobona)

The rating agency sees high risks for aid programs.

Fitch to Downgrade Cyprus Again / Picture: ©

US rating agency Fitch sees a high risk that the € 10bn worth aid program by the European Union and the International Monetary Fund (IMF) will get out of control.

The agency therefore downgraded the creditworthyness of the country even further down to junk status. The step would reflect the increased insecurity of the Cyprian economic development, according to the agency. Fitch…