Rating agency Standard and Poor's downgraded Greece's credit rating to partial default rating "SD". The decision came yesterday evening, a few days after the swap operation, ie the exchange of Greek bonds, to which the country's private creditors were called after the troubled agreement reached a week ago. The new downgrade follows by a few days the downgrade operated by Fitch.
"All its consequences" of this umpteenth rejection by a rating agency "were anticipated" thanks to the decisions taken by the European Council and the Eurogroup. This is the comment from the Athens Ministry of Finance.
"The downgrade will have no impact on the Greek banking sector – said instead the president of the Eurogroup, Jean-Claude Juncker -, given the liquidity of the Central Bank of Greece and, consequently, of the EFSF”. This and other similar decisions by rating agencies "were duly anticipated and taken into consideration in the planning of the PSI operation" involving the private sector, Juncker explained.
