然而最近，德国的债券也广泛蔓延开来。 评级机构穆迪二月发出警告，如果不进行盘整，越来越多的债务会威胁到法国的三A级信用。
Yet the spread over German bonds has widened recently, and in February Moody’s, a rating agency, warned that in the absence of consolidation, rising debt could threaten France’s AAA rating.
穆迪corporate finance部门的常务董事Mike Rowan认为，“当债券违约的可能性上升时，评级就会掉到C及以下的级别。”
"Bonds are usually downgraded to that rating when they're near default," says Mike Rowan, managing director for corporate finance at Moody's.
如果到那时希腊在三大主要的评级机构(另一家是穆迪)的评级以b开头，银行对购买或持有它债券的热度将大大降温。
If by then Greece's rating from all three main credit agencies (Moody's is the other one) starts with a b, Banks will be far less keen to buy or hold its debt.
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