S&P Cuts Greece, So It May Finally Be Rescued

Posted on: 13, Jun, 2011

Greece will not, under any circumstances, default. S&P believe otherwise. It dropped its sovereign debt rating of the southern European nations by three notches. In the announcement the agency said: Standard & Poor’s Ratings Services today lowered its long-term sovereign credit ratings on the Hellenic Republic (Greece) to ‘CCC’ from ‘B’. The short-term ratings were affirmed at ‘C’. At the same time, the ratings...

Tags: international markets , rate , greece , default , sovereign

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