The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: Giordano Bruno who wrote (38142)	5/9/2011 8:42:24 AM
From: ggersh	1 Recommendation Read Replies (1) of 71475

No worries! Greece Downgraded From BB- To B As S&P Believes More Than 50% Principal Debt Reduction Would Be Required Submitted by Tyler Durden on 05/09/2011 08:22 -0400 * Under our sovereign ratings criteria, a commercial debt rescheduling typically constitutes a default. * In our view, there is increased risk that Greece will take steps to restructure the terms of its commercial debt, including its previously-issued government bonds. * Accordingly, we are lowering both the long- and short-term ratings on Greece to 'B' and 'C', respectively. * We are leaving both ratings on CreditWatch Negative.

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