The rating of Greece lowered after the announcement of the referendum – Le Point

The rating agency Standard and Poor’s (SP) Monday lowered by one notch rating of Greece to “CCC-”, considering that the Athens decision to a referendum was a bad signal for the “economic stability” of the country. “The decision by Greece to hold a referendum on the proposal of the creditors is a further sign that the government will emphasize Tsipras domestic politics at the expense of economic and financial stability (and) the payment of the debt” held by private investors , estimated the agency in a statement. The Greek government announced Saturday the organization of a referendum on July 5 on the continuation of international aid plan, causing the breakdown of talks with the country’s creditors (IMF, European Commission, European Central Bank). S & amp; P estimates that “50%” the risks of Greece leaving the euro and ensures that no zone “favorable evolution of the situation,” the country will “inevitably” defaulting on its debt held by the private sector “in the six months. “

Relegated to” CCC- “the rating of Greece is formally within a few clicks of the lack of general payment. S & amp; P matched the new rating a negative outlook, adding that she was going to deteriorate again in the “next six months” in the case for example of a defaulting vis-à-vis private creditors maturity. The note will be relegated to “SD” (selective default), says the rating agency. Greece also risks of default on its vis-à-vis the IMF debt on Tuesday, but in their assessments, rating agencies take into account that the risk surrounding the bonds held by the private sector.