Tuesday, July 6, 2010

Greece Is Now the Second Riskiest Sovereign Borrower

Over the past three months, Greece has moved from ninth to second in terms of likely sovereign default over the next five years, according to a recent analysis by CMA that was reported on by FT.

Only Venezuela is a higher default risk.

Based on the CMA analysis, Greece debt should be rated CCC,  though S&P has it at BB+.

S&P rates Venezuela BB-.

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