DBRS: Greece on negative watch

DBRS said it placed the Greece's long-term foreign- and local-currency issuer ratings of B and short-term foreign- and local-currency issuer ratings of R-4 under review with negative implications.

DBRS said it has an elevated concern about the potential for a deterioration in Greece’s creditworthiness as a result of actions of the new Greek government following the general elections Jan. 25, along with subsequent developments.

In light of the change in government in Greece and given the importance of financial assistance from the European Commission, European Central Bank and International Monetary Fund and the Troika, the agency said it is concerned about Greece’s ability to meet its financing needs.

Whether the new Greek government will come to an agreement with the Troika on extending the existing financial assistance program is uncertain, DBRS said.

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