MarketWatch
December 16, 2010
Moody's Investors Service said Thursday that it has placed Greece's Ba1 local and foreign currency government bond ratings on review for possible downgrade. "Moody's decision to initiate this review was prompted...by the increased uncertainty over (1) Greece's ability to reduce its debt to sustainable levels given the recent substantial upward revision in debt levels; (2) the substantial revenue shortfall that we have observed in 2010; and (3) the level and conditions of ongoing support that would be available to Greece in the event that its market access remains cut off," said Moody's in a statement. The ratings firm said a multi-notch downgrade "would be possible."
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