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Moody's lowers Greek rating on fears of euro exit
Moody's rating agency said it was lowering Greece's highest possible credit rating because there was an increased risk that the country would exit the euro zone. Moody's said it "has lowered its assessment of the highest rating that can be assigned to a domestic debt issuer in Greece to Caa2 based on the increasing risk of a exit by the country from the euro area." The highest rating "on any Greek security is currently B1, which is rating assigned to certain covered bonds. Any rating actions taken as a result of the new ceiling will be released during the coming week." According to Moody's, although the risk of ... (full story)
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