Moody's Downgrades Greece Ratings
3/7/2011 3:12 AM ET
(RTTNews) - Moody's Investors Service on Monday lowered Greece's government bond ratings saying there are significant risks associated with the implementation of fiscal consolidation measures.
The rating agency downgraded bond ratings to B1 from Ba1 and assigned a negative outlook to the rating. Continuing difficulties in revenue collection as well as risk attached to continuing support from official sources after 2013 also triggered the latest downgrade, Moody's said.
The negative outlook on the B1 rating reflects Moody's view that the country's huge debt burden and the significant implementation risks in its structural reform package both skew risks to the downside.