September 18, 2018

In just one week, Romania’s sovereign debt default risk doubled – Moody’s

Moody’s said in a report that the probability of a Romanian sovereign debt default in the next five years reached 8.9% at the end of last week, after the 12-month risk nearly doubled to 1.35%, from 0.76% in the previous seven days. According to Moody’s Romania was facing a 0.76 risk of default on September 16 and up to September 23 the risk increased to 1.35%. U.S. Moody’s Investors Service recalculated Greece’s long-term bank deposits and eight priority debt rating lowered two grades. Moody’s said that even if the Bank of Greece’s capital position Shangqie now adequate, but they believe that with the Greek government bonds held by banks declining book value of the bank’s solvency will be at risk. Moody’s warned that the solvency of the Greek government is facing enormous challenges, historical experience shows that small-scale sovereign debt restructuring is usually accompanied by more serious sovereign debt default.

Source: Bucharest Herald (read more)

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