Ratings agency refers to word “default” in outlook for next 12 months if no agreement is reached with creditors
Standard and Poor’s lowered its long-term sovereign credit rating for Greece to CCC from CCC+, warning that the Greek government would likely default on its commercial debt over the next 12 months if no deal is reached with institutional creditors.
The outlook on Greece remained negative, S&P reported, while the short-term credit rating was unchanged.
Mediterranean Cooking
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