Economic

S&P Downgrades Greece. Warns of Likely Default Within 12 Months

“S&P just downgraded Greece.

‘We have lowered our long-term sovereign credit rating on Greece to ‘CCC’ from ‘CCC+’ to reflect our opinion that in the absence of an agreement between Greece and its official creditors, the Greek government will likely default on its commercial debt within the next 12 months,’ the credit-rating agency warned.”

Source: S&P DOWNGRADES GREECE, WARNS IT’LL LIKELY DEFAULT WITHIN 12 MONTHS – Business Insider

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