Fitch said it would upgrade Greece after a successful completion of the debt exchange, expected at the end of the month.
The finance ministers praised Greece's progress but held off giving final approval, saying it wanted to see "a few pending implementing acts" passed in Athens and the completion of a debt restructuring deal with the country's private creditors, which intends to cut about 100 billion euros from its load.
Greece received an upgrade from Standard & Poor's on Wednesday, reflecting completion of a debt-reduction deal with creditors.
Fitch Ratings, which has held MBIA to the fire over the last few weeks, said Wednesday the successful completion of the $1 billion debt sale would address its concerns over MBIA's capital and likely lead it to affirm its AAA financial strength ratings.
The British telephone equipment maker Marconi, whose fortunes have spiraled downward since the late 1990's, said it would further delay the completion of a complex debt-for-equity restructuring until May 31.
Mr. Papademos said that the alternative to the completion of talks on the debt swap and on a second bailout for Greece was a potentially catastrophic default.
With a president pledging to return the U.S. to a leader in college completion, families wrestling with crippling levels of debt and states struggling to close yawning deficits, it is high time that colleges and universities be held more accountable for their handiwork.
Fortis will also assume $500 million of CH Energy's outstanding debt upon completion of the acquisition, according to a company statement.
The owner of the mortgage and Bank of America agreed to "waive their right to pursue collection of any deficiency following the completion of your short sale and your debt is considered settled".
The country reached the completion point under the Enhanced Heavily indebted Poor Countries (HIPC) Initiative and got approval of debt relief under the Multilateral Debt Relief Initiative in 2006 [ 10].
