Tags: Greece | economy | rating | S&P | debt

S&P Cuts Greece Rating Into Vulnerable to Default Range

Wednesday, 15 Apr 2015 12:58 PM


The Standard and Poor's rating agency has downgraded Greece's sovereign credit rating further into junk status, saying it expects the country's financial commitments would be unsustainable without "deep economic reform or further relief."

The agency downgraded Greece to CCC+ from B- Wednesday, with a negative outlook "given the risk of further worsening in liquidity for the sovereign, the banks, and the economy."

It said the country's solvency "hinges increasingly on favorable business, financial, and economic conditions. In our view, these conditions have worsened due to the uncertainty stemming from the prolonged negotiations between the almost three-month-old Greek government and its official creditors."

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Standard & Poor's downgraded Greece's long and short-term sovereign credit ratings to 'CCC+/C' from 'B-/B', citing worsening economic conditions due to prolonged negotiations between the government and creditors. The ratings agency also removed Greece's ratings from...
Greece, economy, rating, S&P, debt
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2015-58-15
Wednesday, 15 Apr 2015 12:58 PM
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