S&P and Moody's investors service mentioned yesterday that Greece's debt rating may subject to another cut within a month on anticipations the Greek government will not be able to cut spending as planned. S&P reduced Greece's rating in December from A- and may lower it to BBB+ by the end of March, while Moody's may cut its ratings to A2 grade in a few months. If Greece's debt rating was cut, it will face more difficulties in borrowing and conforming to the EU rules that were loosened during the global crisis. On the other hand, the euro remains under pressure after it fell to the lowest in one year versus the yen and dropped more than 6% against the dollar.
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