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Greece, Greek debt crisis

Greece sovereign rating downgraded…again

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Moody’s downgraded Greece’s sovereign debt rating to Caa1, with a negative outlook, from its recent low of B1. But apparently we shouldn’t worry too much. Apparently only 50% of countries rated Caa1 default, and that within 5 years. Then again, weren’t Moody’s among the rating agencies who A-rated tons of mortgage-backed securities?

About Damian Lawrence

DAMIAN LAWRENCE holds a bachelor’s degree in Chemistry from Harvard University and a master’s degree from the School of Advanced International Studies of the Johns Hopkins University. He has worked in fields as diverse as government, biomedical research and the financial services industry, and currently lives in Greece. He is the author of the critically acclaimed novels, The Guardians of Time, and The Sacred City, Books I & II of The Guardians series.

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