Investors dispute claims sovereign downgrades were hasty

jose-manuel-barroso
Jose Manuel Barroso, European Commission president

Widely condemned for acting too slowly as the subprime mortgage crisis unfolded in 2007, credit rating agencies have come under fire in recent weeks from European Union officials for acting too quickly in cutting ratings on Europe’s indebted peripheral sovereigns.

On April 9, Fitch cut Greece’s sovereign rating two notches to BBB-, and on April 22, Moody’s downgraded Greece one notch from A3 to A2. Both agencies currently have Portugal (rated Aa2 by Moody’s, and AA- by Fitch) on negative watch

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: