S&P cuts Greece rating into vulnerable to default range
Standard & Poor
Paris - Arab Today
Standard and Poor's cut Wednesday its long-term credit rating for Greece by one notch to CCC+, a level at which borrowers are considered as being vulnerable to default, saying it needs further reforms and help.
"Without deep economic reform or further relief, we expect Greece's debt and other financial commitments will be unsustainable," said the agency, adding that the outlook on the rating was negative.
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