S&P downgrades Greece as creditor talks fail to progress

April 15, 2015 5:08 PM

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The Standard and Poor's rating agency downgraded Greece's credit grade further into junk status Wednesday, saying the country's financial commitments would be unsustainable without "deep economic reform or further relief."

The agency downgraded Greece to CCC+ from B-, with a negative outlook "given the risk of further worsening in liquidity for the sovereign, the banks, and the economy."

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