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Ratings agency Moody's downgrades Greece

Ratings agency Moody's downgrades Greece

The ratings agency Moody's has downgraded Greece to the lowest rating on its bond scale, following a deal with private investors that would see them ultimately lose 70 percent of their holdings in Greek debt.
Moody's late Friday lowered Greece's sovereign rating to C from Ca, arguing that the risk of default remains high even a bond-swap deal with banks and other private investors, due to be completed this month, is successful.
Ratings agency Standard & Poor's took similar action on Feb. 27.


Updated : 2021-05-09 22:32 GMT+08:00