Ratings agency downgrades Greece to lowest credit rating

The Moody's logo

Economy

The ratings agency Moody’s has downgraded Greece to the lowest rating on its bond scale. The agency lowered Greece’s rating to C from Ca, warning that the risk of default remained high after a recent EU debt deal.

Greece was further downgraded by Moody’s ratings agency late on Friday to the lowest rating on its bond scale.

The agency said it had lowered Greece’s sovereign rating from Ca to C in the wake of a recent EU deal to write off 107 billion euros ($141.3 billion) of Greek sovereign debt which will see private investors incur major losses.

About Eeyore

Canadian artist and counter-jihad and freedom of speech activist as well as devout Schrödinger's catholic

Leave a Reply

Your email address will not be published. Required fields are marked *

*