Paris: Standard and Poor`s downgraded Greece`s credit rating on Friday to B-, just one notch above the range indicating vulnerability to a default, warning Athens had limited time to reach a deal with creditors.
"In our view, a prolongation of talks with official creditors could also lead to further pressure on financial stability in the form of deposit withdrawals and, in a worst-case scenario, the imposition of capital controls and a loss of access to lender-of-last-resort financing, potentially resulting in Greece`s exclusion" from the eurozone, the ratings agency said in a statement.