May 9, 2011, 1:14 p.m. EDT
Standard & Poor’s downgrades Greece’s rating
Ministry
By Polya Lesova, MarketWatch
LONDON (MarketWatch) — Standard & Poor’s Ratings Services downgraded Greece’s credit rating Monday, dealing another blow to the debt-laden European nation.
S&P lowered its long- and short-term ratings on Greece to B and C, respectively, from BB- and B previously. The ratings remain on credit watch with negative implications.
Also Monday, Moody’s Investors Service placed Greece’s B1 local and foreign currency government bond ratings under review for possible downgrade and warned that a multi-notch action is possible.
The moves come as concerns have mounted in recent days over Greece’s ability to repay its debt.
Article continues: http://www.marketwatch.com/story/standard-poors-downgrades-greeces-rating-2011-05-09?dist=countdown
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