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To: Johnny Canuck who wrote (45991)	12/22/2009 5:39:52 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 71162

3:32AM Moody's cuts Greece debt rating to A2 by Simon Kennedy LONDON (MarketWatch) -- Moody's Investors Service said Tuesday it has downgraded Greece's government bond rating to A2 from A1, citing mounting evidence that the government's long-term credit strength was eroding materially. Moody's said the the government's problems are long-term and "stem from a slow erosion in competitiveness and economic potential, which implies that the government's debt problem cannot be resolved by growth alone." The firm said that in the short term Greece is extremely unlikely to face liquidity or refinancing problems unless the European Central Bank decides to take the unusual step of making the country's sovereign debt ineligible as collateral for bank repurchase operations. Moody's said the outlook for Greece's rating was negative. Standard & Poor's and Fitch Ratings have both already downgraded Greece's government debt rating in the last month.