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Internet file photo

Hellenic Telecommunications Organization SA corporate office, located in the northern Athens suburb of Maroussi, as seen in 2007.

With the nation of Greece in financial turmoil, CreditPulse takes a look at some Greek companies that aren't faring much better than the country itself when it comes to debt and credit risk.

In early 2008, both Greece and one of its largest companies, Hellenic Telecommunications Organization SA - a company majority owned by the Greek state - needed cash and they needed it fast.  Fortunately for both, the largest telecom in Europe, Deutche Telekom AG, the $74.3 billion German telecom giant, was interested in expanding into the Greek market.