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Tuesday, July 26, 2011

How to read ratings

"Greece’s credit rating was cut three steps by Moody’s Investors Service, which said the European Union’s rescue for the debt-laden nation will cause substantial losses for investors and amount to a default. "

America is still AAA.
The difference is that Greece is NOT going to default, at least not in the real near future, while America has a much bigger risk ( and in the very near future).

So, how to read rating?

Who gains?
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