Moody's Places Greece's Caa1 Rating On Review For Possible Downgrade

Moody's Investors Service on Friday placed its Caa1 rating on Greek government debt on review for a possible downgrade that would push it further into junk territory, citing the high level of uncertainty about the outcome of talks with its official creditors. "The outcome could potentially have negative implications for Greece's ability to meet its funding and liquidity needs and for the probability of default on marketable securities," the rating agency said in a statement. The move came just hours after Standard & Poor's lowered its rating on Greek sovereign debt to B-Minus from B on similar grounds.