Rat­ing freefall.

Kathimerini English - - Business & Finance -

Greece’s credit rat­ing is tum­bling at al­most 30 times the av­er­age speed af­ter it was cut three lev­els to Caa1 by Moody’s In­vestors Ser­vice, ac­cord­ing to Evo­lu­tion Se­cu­ri­ties Ltd. It typ­i­cally takes 15,741 days for an is­suer to fol­low the down­grade path Greece has tra­versed since it was cut to A2 in De­cem­ber 2009, the Lon­don-based bro­ker said in a note yes­ter­day. That com­pares with the 526 days it has taken the nation to make the jour­ney, Evo­lu­tion said. “Sta­tis­ti­cally, the faster the rat­ing goes down, the more likely the is­suer is to de­fault,” said Brian Barry, an an­a­lyst at Evo­lu­tion in Lon­don. “You don’t have to be a math­e­ma­ti­cian to see the scale of

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