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Moody’s Cuts S.Cyprus’ Rating Two Notches from Ba1 to Ba3..Sinking Together

June 15 2012 at 6:43 AM
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Moodys Cuts Cyprus Rating Two Notches
By A. Papapostolou on June 14, 2012

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Moodys has cut the credit rating of Cyprus by two notches, citing the nations close links to Greece and the rising likelihood that Athens will exit the euro zone.
Moodys Investors Service on Wednesday downgraded Cypruss government bond ratings to Ba3 from Ba1, and placed the ratings on review for further possible downgrade.

The key driver for todays rating action is the material increase in the likelihood of a Greek exit from the euro area, and the resulting increase in the likely amount of support that the government may have to extend to Cypriot banks. it said on Wednesday.
The two-notch downgrade reflects Moodys assessment that this risk is exacerbated by the fact that the countrys finances are already strained and access to the international markets is still denied.
(source: AAP)

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Re: Moody’s Cuts S.Cyprus’ Rating Two Notches from Ba1 to Ba3..Sinking Together

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June 15 2012, 6:52 AM 

Yesterday there was a topic about ' Greek textile industry is shrinking' and now today we read this new..

I guess eveything is lowering or shrinking in Greece and her little sister S.Cyprus nowadays.

Better these 2 contries change their names Shrinkland-1 and shrinkland-2....


Stop shrinking your economy Greeks..let experts run it! happy.gif))))

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