Belfast Telegraph

Friday 18 April 2014

Greek credit-rating tragedy

Just when you thought things couldn’t get any worse for Greece, along comes a new rating from Moody’s for its faltering banks.

The credit-rating agency downgraded the ratings of the main Greek banks by a further two notches.

It cited increased risks of losses on their holdings of Greek debt.

Moody's Investors Service also warned of an increased prospect that the Greek economy will worsen.