ATHENS, Greece — Standard & Poor’s has cut its credit rating on Greece further into junk status amid concerns over the country’s cash position, as the country’s new government signaled it would not give up on demands to overhaul bailout agreements.
The agency said Friday it has lowered Greece’s long-term rating by one notch to B- and even warned over the country’s future membership of the 19-country eurozone.
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“It is clear that the government will remain committed to the clear mandate it has received from voters and will not accept an extension of the dead-end and catastrophic bailout,” a senior official said.
The official asked not to be named as talks with European officials are ongoing.
