Greece Placed On CreditWatch Negative

Standard & Poor΄s Ratings Services today said it had placed its ΄A-΄ long-term sovereign credit rating on the Greece on CreditWatch with negative implications. Standard & Poor΄s also placed on CreditWatch Negative its ΄A-΄ senior unsecured debt rating on government-guaranteed securities of Greek banks.

“The ratings on Greece have been placed on CreditWatch negative to reflect our view that the fiscal consolidation plans outlined by the new government are unlikely to secure a sustained reduction in fiscal deficits and the public debt burden,” Standard & Poor΄s Ratings Services credit analyst Marko Mrsnik said.

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