21:47 01Jun11 RTRS-MOODY'S DOWNGRADES GREECE TO CAA1 FROM B1, NEGATIVE OUTLOOK
21:48 01Jun11 RTRS-RPT - MOODY'S DOWNGRADES GREECE TO CAA1 FROM B1, NEGATIVE OUTLOOK
21:50 01Jun11 RTRS-MOODY'S SAYS GREECE DOWNGRADE REFLECTS INCREASING RISK IT WILL FAIL TO STABILIZE DEBT POSITION WITHOUT RESTRUCTURING
21:53 01Jun11 RTRS-MOODY'S SAYS GREECE DOWNGRADE REFLECTS RISING LIKELIHOOD IMF, ECB, EU WILL REQUIRE PRIVATE CREDITORS IN RESTRUCTURING FOR MORE FUNDING
21:54 01Jun11 RTRS-MOODY'S SAYS THESE "RISKS IMPLY AT LEAST AN EVEN CHANCE OF DEFAULT OVER THE RATING HORIZON"
22:02 01Jun11 RTRS-Moody's cuts Greece, sees debt restructuring likely
NEW YORK, June 1 (Reuters) - Moody's on Wednesday cut Greece's credit rating by three notches, citing a growing risk that the government will fail to stabilize its debt position without a debt restructuring.
Moody's downgraded Greece's ratings to the extremely speculative level of Caa1, seven notches into junk territory, from the previous level of B1.
The outlook on the new rating is negative, in a sign that another downgrade is likely in the short to medium-term.
21:48 01Jun11 RTRS-RPT - MOODY'S DOWNGRADES GREECE TO CAA1 FROM B1, NEGATIVE OUTLOOK
21:50 01Jun11 RTRS-MOODY'S SAYS GREECE DOWNGRADE REFLECTS INCREASING RISK IT WILL FAIL TO STABILIZE DEBT POSITION WITHOUT RESTRUCTURING
21:53 01Jun11 RTRS-MOODY'S SAYS GREECE DOWNGRADE REFLECTS RISING LIKELIHOOD IMF, ECB, EU WILL REQUIRE PRIVATE CREDITORS IN RESTRUCTURING FOR MORE FUNDING
21:54 01Jun11 RTRS-MOODY'S SAYS THESE "RISKS IMPLY AT LEAST AN EVEN CHANCE OF DEFAULT OVER THE RATING HORIZON"
22:02 01Jun11 RTRS-Moody's cuts Greece, sees debt restructuring likely
NEW YORK, June 1 (Reuters) - Moody's on Wednesday cut Greece's credit rating by three notches, citing a growing risk that the government will fail to stabilize its debt position without a debt restructuring.
Moody's downgraded Greece's ratings to the extremely speculative level of Caa1, seven notches into junk territory, from the previous level of B1.
The outlook on the new rating is negative, in a sign that another downgrade is likely in the short to medium-term.
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