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News Link • Money Bomb

Greek bonds, cut to CCC, are going, going …

• The Economic Spy
Greek bonds are cut three notches to CCC by S&P – Given the value of rating agencies is this move significant? The value of bond ratings, as in the case of Greek bonds, can be questionable! For those reading this article who don’t have a background in bonds and who most likely don’t know or don’t care about bond ratings, this is a quick tutorial on the scale used by Standard & Poor’s, better known as S&P. First, however, I would like to provide a quick summary on the value of ratings in light of the Greek bond downgrade to CCC.

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