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Eurozone exit, default on debt most likely outcome for Greece: DBRS

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An exit from the eurozone and a default on its private-sector debt is now the most likely outcome for Greece, credit rating agency DBRS said on Wednesday.

[LONDON] An exit from the eurozone and a default on its private-sector debt is now the most likely outcome for Greece, credit rating agency DBRS said on Wednesday.

The comments were made by the firm's top sovereign analyst Fergus McCormick after it downgraded Greece to a deep-into-junk-territory CC on Wednesday following a missed repayment to the International Monetary Fund.

He added that he didn't expect a Greek exit from the single currency bloc to trigger a blanket downgrade of other high debt European countries such as Italy and Spain.

REUTERS

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