Greece credit outlook downgraded
The report came amid a worsening economy and delays that have kept the Athens government from implementing cuts.
The move reflects the possibility that S&P will downgrade Greece's rating if the nation fails to get additional funding from other eurozone countries and the International Monetary Fund.
In return, it has imposed harsh austerity measures, slashing pensions and salaries, repeatedly hiking taxes and increasing the retirement age.
- Third contraction for Spain economy
- Bank to cut growth forecast to zero
- Greece promises to stop job losses