Economy
Moody's Reviews Greece for Potential Downgrade
February 6, 2015 5:14 pm
Last Updated: February 7, 2015 9:09 am
Moody’s, the credit research service, has expressed doubt about the future of Greek debt. Moody’s disclosed::
Source: Thinkstock
Moody’s Investors Service has today placed Greece’s Caa1 government bond rating on review for downgrade. The short-term rating remains unaffected at Not Prime (NP).
The key driver for the review for downgrade is the high level of uncertainty over the outcome of the negotiations between Greece and its official creditors over the terms of Greece’s support programmer. The outcome could potentially have negative implications for Greece’s ability to meet its funding and liquidity needs and for the probability of default on marketable securities. Moody’s government bond rating applies to marketable securities only.
S&P recently cut the Greek debt rating from B to B-.
ALSO READ: Are Greek Banks Finally Safe?
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