Downgrading the credit rating of Portugal by Moody's 4 notches to Ba2 from Baa1 with a negative outlook could contain the market sentiment putting pressure on the single currency following warning from S&P credit rating agency about the direction of France to help Greece by supporting its private sector for reinvesting its holding of short term debts of Greece to longer periods ones in what can be turning around a direct announcement of restructuring the Greece's debt by France which will be considered a default by the credit rating agencies which can put pressure again on the single currency in the coming period.
- Published: 06 July 2011
- Written by Editor