Moody's downgrades Greek bond rating, sees chances of accident rising

Economy Tags: Ratings

Moody’s downgraded late on Wednesday Greece’s government bond rating by one notch to Caa2 from Caa1, concluding the review for downgrade that commenced on February 6. At the same time the outlook on the rating is negative.

This is the third downgrade over the past four weeks following that of Fitch by three notches to ‘CCC’ on March 27 and of S&P by one notch to ‘CCC+/C’ on April 15. Moody’s current rating is equivalent to ‘CCC’ under the rating scale of the other two rat...

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