Moody's downgrades Greek rating on debt concerns

22nd April 2010, Comments 0 comments

International ratings agency Moody's downgraded Greece's sovereign ratings to A3 from A2 on Thursday and warned they faced a possible further downgrade in the face of the country's debt problems.

It said the decision, made as Athens discusses a rescue accord with the EU and IMF, was "based on Moody's view that there is a significant risk that debt may only stabilise at a higher and more costly level than previously estimated."

© 2010 AFP

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