S&P: Yioula Glassworks, Glasstank to negative

Standard & Poor's said it revised its outlook on Yioula Glassworks SA and its core subsidiary Glasstank BV to negative from developing.

At the same time, the agency affirmed its CCC- long-term corporate credit ratings on both companies, and its CC issue rating on Glasstank’s €185 million senior secured notes due 2019.

S&P said the outlook revision results from the lowering of Greece’s long-term rating to CCC- from CCC and the agency’s view that the likelihood that Greece will exit the eurozone has now increased to about 50%.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.