Greece Ranked Lower After Moody's Default
Moody's lowered the rating of Greece to ' Caa3 ' from ' Caa2 ' due to the country's economic State becomes the first advanced experienced default debt to the IMF.
Moody said the possibility of Greece to reach for support from the smaller creditors associated rating agency review it over the country last April.
"Without the support of the official creditors, and fiscal and economic reforms needed to sustain the support that their financial system, replacing it with a more sustainable basis, Greece will have his personal liability for any default at some point, the Agency said in a statement.
Focus on the possibility of Greece out of the euro currency sparked anxiety in the financial markets, because of the country's membership in the bloc, the 19 countries with the shared currency was still unclear.
Greece are having the default for the debt of 1.6 billion euros (1 million pounds) to the IMF, will carry out a weekend referendum later in which its citizens will choose whether accept or reject the terms to continue the assistance the International Fund.
The drop in the rankings followed by ratings given by Fitch, Standard & Poor's.
