Financial News Flash: It is reported that credit rating agency Moody's has reduced Greece's sovereign debt rating down from Caa1 to Doh, instead of the Ca that had earlier been indicated.
A spokesman for the credit rating agency said:
"We considered dropping it three notches from Caa1 to Ca but then thought, why not take it down another 157 points purely for comedic effect?"
It is the first time that a country has had it's credit rating reduced so deeply and sharply on a Monday.
Doh is now arguably the funniest credit rating in financial history.
The Doh rating indicates that the country defaulted about 6 years ago but nobody thought about mentioning it.
A leading columnist told theVoiceofReason:
"This is the first time that a nation's credit rating has been influenced by Homer Simpson. You've got to admire their comedy timing."
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The USA's credit rating is AAA (pronounced like you are stretching your body first thing in the morning) at least for another week, according to a man who's surname rhymes with boner.
