Moody's lowered its assessment of the highest rating that can be assigned to a domestic debt issuer in Greece by four points to Caa2 "on the increasing risk of an exit by the country from the euro area," the rating agency said on Saturday.
Moody's cut Greece's debt to A2 from A1 on Tuesday over soaring deficits, becoming the third major rating agency to downgrade the highly-indebted country's rating this month. Read Post
There was little impact when Moody’s downgraded Greece’s credit rating to junk status, reports Reuters. Despite any progress Greece began, the risks of the bailout package and “doubts over the country's ability to exit a severe debt... Read Post