S&P acts in wake of ECB decision and downgrades Greek rating to B-

Economy Tags: Banking, ECB, Ratings

S&P lowered on Friday evening its long-term rating on Greece by one notch to ‘B-‘ from ‘B’, while it maintained the CreditWatch negative, which was placed on January 28.

S&P thinks that a prolongation of negotiations could also lead to further pressure on financial stability in the form of deposit withdrawals.

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