June 14, 2010
Moody's Investors Service on Monday slashed Greece's credit rating to junk status as a delegation from the International Monetary Fund and the European Union started an interim review of the country's efforts to pull itself out of a major debt crisis.
A Moody's statement said it was cutting Greece's government bond ratings by four notches, to Ba1 from A3, with a stable outlook for the next 12 to 18 months. It was the second of the three major agencies to accord Greek bonds junk status since Standard & Poor's did the same in late April.
The downgrades reflects concern that the country could fail to meet its obligations to cut its deficit and pay down its debt.
More
No comments:
Post a Comment