Bloomberg News

Greece Negative for All But Strongest EU Credits, Moody’s Says

November 07, 2011

Nov. 7 (Bloomberg) -- Greece’s political turmoil, which raised the prospect of one or more countries exiting the euro, may undermine the creditworthiness of all but the strongest European economies, Moody’s Investors Service wrote in its weekly credit outlook.

“Greece’s demonstration of a stressed sovereign acting in defiance of other euro area member states revives the spectre not simply of potential defaults beyond Greece, but of a member country withdrawing from the monetary union or having its status and privileges curtailed,” Moody’s said.

To contact the reporter on this story: Garfield Reynolds in Sydney at greynolds1@bloomberg.net

To contact the editor responsible for this story: Rocky Swift at rswift5@bloomberg.net


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