BREAKING - Moody's to cut GREECE to JUNK STATUS

link

would be fun if moody keeps greece on junk status, i hope moody will degrade many euro countries to junk status.

I am trying to get you something. currently its verbal to my ears.

LINK IT AND I WILL RUN TO THE NEXT BANK!!!

Sorry OP but I have to call BS for now until you provide a link.

The ramifications of this would be HUGE and the markets would IMMEDIATELY show this.

I promise I am not making this up.

[link to www.thehindubusinessline.com]

Thursday, May 6, 2010

Update at 1745 hrs (IST)

Global News / Markets
Greece crisis may impact European banks: Moody’s
LONDON: Global ratings agency Moody’s on Thursday warned that potential contagion of the worsening Greek debt crisis could hit the banking systems in some European nations, including the United Kingdom, Portugal and Spain.

The latest statement comes a day after the agency announced that government bond ratings of Portugal are under review for a possible downgrade due to weak public finances.

“As shown by the recent downgrade of Greek banks as a result of sovereign weakness, the potential contagion of sovereign risks to banking systems could spread to other countries such as Portugal, Spain, Italy, as well as Ireland and the UK,” Moody’s Inve stors Service, which is part of Moody’s, said in a statement.

Despite Greece securing a £110 billion rescue package, to be given by Euro Zone members and the IMF, concerns are mounting about the viability of the plan and effective implementation of Greek government’s austerity measures.

“Overall, Moody’s notes that each of these countries’ banking systems faces different challenges of different magnitudes, but warns that contagion risk could dilute these differences and impose very real, common threats on all of them,” the statement not ed.

The Greek government is expected to vote on stiff austerity measures, as part of the bailout package.

Meanwhile, fears about the Greece crisis impacting other European countries have increased in recent weeks. Yesterday, Moody’s said that a review for possible downgrade of Portugal’s rating was mainly on account of the country’s deteriorating public fina nces as well as the economy’s long-term growth challenges.

On April 30, Moody’s downgraded the bank financial strength ratings as well as the deposit and debt ratings of nine Greek banks, citing their weak financial position.

Global rating agency Standard & Poor’s (S&P) last month cut Greece’s sovereign rating to junk status and also downgraded the rating of Spain. - PTI

Last Edited by Nailer45 on 05/10/2010 11:10 AM

Kind of late, don't you think???????????

Way past JUNK.

here is something to kinda back it all up...

[link to www.lse.co.uk]

I wish I could get you the MSM links to this

CUE, Sanford and Son theme song.

[link to www.tvland.com]

This was breaking about a week ago.

That was standard and poors.

Yep. Aprl 30th.

Thing is that it was a possibility back then. Now it seems like it is going to happen. thus following on.

What took Moody's so long to catch up?

it just hit the MSM! it's on cnbc now

Lock up the antiquities!!! Barracade the landmarks!!!

hah.. where be that linky :)

Holy fuck market tank if true..

and how will they BAIL that beast out?

Not finding any links??????????

If true, very DOOMY.

Don't worry Greece is +9%

Trading is closed for the day there already though. Could be interesting times ahead..

sorry i am not recording it but for sure it showed up as breaking news.

Apparently they are warning that they likely will...

from Twitter:

@FuturesTrader71 11:20 Moody's says could cut Greece to junk rating in coming weeks, according to CNBC

Moody's site.
[link to moodys.com]

I swear this is being hidden from eye view.

No one has it no one wants be seen to say it... it is happening somewhere.

ears are hearing it everywhere

so traders are taking it from CNBC. I am taking it from verbal chat before that.

ignore this, the ponzi scheme is doing great!!!!! everybody place your bets!!!!!

Well...

Moodys (MCO) Faces SEC Investigation

Moody's is down big so far today on news that the ratings agency is facing an SEC investigation regarding its 2008 licensing to be a credit ratings agency.

[link to www.marketintelligencecenter.com]

What, get rid of them before they pull thr trigger