Moody's downgrades Greece's rating by one notch to Caa3

Economy Tags: Ratings

Following S&P and Fitch, Moody’s downgraded on Wednesday Greece’s government bond rating by one notch to Caa3 from Caa2, while rating is on review for further downgrade.

The key driver that triggered the downgrade lies with the fall in the probability of support to Greece since the previous downgrade in April regardless of the referendum outcome.

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