A major ratings agency has downgraded Greek debt to junk status, further damaging the country’s efforts to avoid default and raising doubt over the overall health of the euro. France 24 explains how credit rating agencies work and why they matter.
Credit ratings of EU member states by Standard&Poor's
The Netherlands: AAA
Greece: BB+ **Greece is the first EU member to be downgraded to a speculative grade rating since the euro was introduced in 1999.
Date created : 2010-04-28