Credit Rating Downgrades
June 15, 2010
Moody’s announced a four-step downgrade of Greek debt from Ba1 to junk status, A3. The 10-year Greek-minus-German yield premium widened 35 basis points to more than 600 basis points. Irish and Spanish premiums also increased. Fitch reduced British Petroleum’s credit rating from AA to BBB. President Obama will address the nation on the oil spill [...]
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