Greece’s budget deficit provokes alarm as rating agencies disagree over downgrades

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Greece’s announcement of a higher than anticipated budget deficit led the three main credit rating agencies to downgrade the country’s sovereign credit rating in December. With other European countries also struggling to cope with mounting deficits, investors are looking carefully at which sovereigns could suffer a similar fate in the coming months.

While all three rating agencies decreased their ratings for Greece by one notch, Moody’s downgrade from A2 to A1 meant the sovereign retained its

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