ATHENS: Moody’s rating agency has lowered the government bond rating of Greece from Caa1 to Caa2 with a negative outlook, citing “high uncertainty” over whether the country’s authorities would be able to agree with the creditors in due time.
Moody’s added that even if Greece does sign a deal with the international creditors, it could be at risk of a default during the implementation of a follow-up financing program because of its “weakened economy and a fragile domestic political environment.”
Transfer pipes carry liquified natural gas to and from a holding tank, seen in background, at Dominion Energy’s Cove Point LNG Terminal in Lusby, Md.
“The negative rating outlook reflects Moody’s view that the balance of economic, financial and political risks in Greece is slanted to the downside,” the rating agency said in a Friday statement.
