Arab Today, arab today standard and poors downgrades 4 greek banks to selective default
Last Updated : GMT 15:50:53
Arab Today, arab today
Arab Today, arab today

Standard and Poor's downgrades 4 Greek banks to 'selective default'

Arab Today, arab today

Arab Today, arab today Standard and Poor's downgrades 4 Greek banks to 'selective default'

Greek banks
Paris - Arab Today

Standard and Poor's on Tuesday downgraded the credit ratings of four Greek banks to "selective default", or SD, following the imposition of limits on cash withdrawals and foreign transfers.

"The downgrades to 'SD' follow the measures introduced by the Greek government", including "limits to deposit withdrawals, the closure of bank branches for a full working week, and the prohibition of money transfers out of Greece unless authorised by the Greek Ministry of Finance," the ratings agency said in a statement.

 

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