Moody’s Puts Greece Ratings on Review for Possible Cut
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Moody’s Investors Service said it placed Greece’s Ba1 bond ratings on review for a possible downgrade, citing heightened concerns about whether the country will be able to reduce its debt to “sustainable levels”.
“Greece has made significant progress in implementing a very large fiscal consolidation effort,” Sarah Carlson, vice president-senior analyst in Moody’s sovereign-risk group, said today in an e-mailed statement from London. “The challenge of reducing debt to sustainable levels has also become greater due to both domestic and regional developments.”