Greece’s Credit Rating Downgraded
Greece’s credit rating was downgraded in spite of the efforts by its new socialist government to slash public spending and pull it out of economic crisis.
Moody’s investors Service became the third rating agency to downgrade Greek government bonds, changing them from an A1 category to A2. Standard and Poor and Fitch have also lowered their assessment of the country’s ability to repay debt. Greece’s public debt has reached £275 billion.
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