Credit ratings agency Standard & Poor’s downgraded Greece from CCC to CCC- and “negative outlook.” Further it warned of Default in 6 Months and put Grexit rates at 50%. S&P downgrade comes the day Athens imposed capital controls and a week-long bank holiday.
“We interpret Greece’s decision to hold a referendum on official creditors’ loan proposals as a further indication that the Tsipras government will prioritize domestic politics over financial and economic stability, commercial debt payments, and eurozone membership,” S&P said.
“In our view, the probability of Greece exiting the eurozone is now about 50%,” they continued. “Also, we believe that, absent unanticipated favorable changes in Greece’s circumstances, a commercial default is inevitable within the next six months.”
S&P’s outlook is officially “negative,” which means Greece could be downgraded to SD, or selective default, within six months.” via Business Insider
“Aw yeaaah, they will gggrab the deposits! Deposits will disapper!” the MP warned the Referendum voters.
Cypriot president supports Greek request for extension …
Looks like only reported in Anglo-Saxon and East-Asia media