Ratings agency Moody’s announced on Thursday that it downgraded Greece’s from “Caa1” to “Caa2”, while also assigning it a “negative outlook”, in response to the political and financial uncertainty.
The short-term review has not been affected and remains “not prime”, while review prospects are also negative. According to Moody’s announcement, the latest downgrade concludes a review that began on the 6th of February.
According to Moody’s, the main reasons for this development is that there is major uncertainty as to whether the Greek government will rach an agreement with its partners in order to cover its needs. Furthermore, with a week economy and fragile political situation, there are high risks in the implementation of a midterm program.
