Moody’s holds Greek rating steady, on review for downgrade

Greece has not moved its rating for Greece but has left it on review for a downgrade.

Update: It will complete its review after of the IMF/EU program are revealed. A multi-notch downgrade is likely, Moody’s says, according to Reuters.

If Fitch and Moody’s cut their ratings, the ECB will have shift its collateral rules again as Greek debt would no longer be investment grade.

EUR/USD trades bit lower, at 1.3245.