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Moody's downgrades Greece debt rating

Published July 25, 2011 Updated July 25, 2011 07:08am
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By Syed Murtaza Gheblehzadeh
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greekbondPARIS: Moody's Investors Service said on Monday it had downgraded Greece's sovereign debt rating by one notch, leaving it one away from default, and warned creditors would lose out from the latest bailout deal.

The ratings agency said in a statement that it has "downgraded Greece's local- and foreign-currency bond ratings to Ca from Caa1 and has assigned a developing outlook to the ratings".

 

Copyright AFP (Agence France-Presse), 2011

 

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