Standard and Poor’s cut Greece’s rating to B from BB-, pulling it further into junk territory over concerns that a debt restructuring is increasingly likely. “In our view, there is increased risk that Greece will take steps to restructure the terms of its commercial debt, including its previously-issued government bonds,” the agency said in a statement, warning that more downgrades could come. It said its projections suggest that principal reductions of 50% or more could be necessary to reestablish Greece’s debt burden to a sustainable level.
Risk Our Money Not Yours | Get 80% Off Any Account!
Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!
Leave a Reply