June 26, 2012 / 7:06 PM / 6 years ago

Egan-Jones cuts Germany to A-plus, outlook negative

NEW YORK, June 26 (Reuters) - Credit ratings agency Egan-Jones on Tuesday cut Germany’s rating to A-plus with a negative outlook from AA-minus, noting that the fallout should Greece exit the euro zone needs to be watched.

Whether on not Greece or other euro zone members exit the monetary union, Germany will be left with “massive” additional, uncollectible receivables, Egan-Jones said in a statement.

Standard & Poor’s and Fitch Ratings both rate Germany at AAA, while Moody’s Investors Service rates the country Aaa. All three of those ratings have stable outlooks.

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