Moody's downgrades Greece's debt to junk status
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Moody's Investors Service on Monday slashed Greece's credit rating to junk status, as a delegation from the International Monetary Fund and the European Union started an interim review of the country's efforts to pull itself out of a major debt crisis.
A Moody's statement said it was cutting Greece's government bond ratings by four notches to Ba1 from A3, with a stable outlook for the next 12-18 months. It was the second of the three major agencies to accord Greek bonds junk status since Standard & Poor's did the same in late April. (AP)
