NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) releases Macro-Market research report entitled “Greek Exit from EU Will Mark Start of Restructuring Process”. The report makes the following key points:
- Since signing a memorandum with the International Monetary Fund in 2010, KBRA notes, Greece’s total debt has increased even as its economy has contracted under the weight of austerity.
- KBRA believes that it is important for investors to understand that a devaluation likely is a given for Greece; the only question that remains is when. Given that there does not seem to be political support for further forbearance, we believe that devaluation is the most likely scenario at present.
- KRBA believes that investors should look upon the eventual exit of Greece from the Eurozone not as a crisis, but instead as the start of a new and potentially constructive phase in the process of dealing with the accumulation of sovereign debt.
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About Kroll Bond Rating Agency
KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).