REPORT ABUSIVE MESSAGE
|
Subject
|
Greece's Debt Rating Slashed, Making It World's LOWEST.............Restructuring = DEFAULT
|
Poster Handle
|
GREEKGOD |
Post Content
|
Standard & Poor's downgraded Greece's credit rating by three notches Monday, making it the world's lowest after the agency said a likely debt restructuring would be considered a DEFAULT. A restructuring of Greece's debt — either with a bond swap or by extending maturities on existing bonds — looks increasingly likely to be imposed by European policymakers as a means of sharing the burden of Greece's crisis with the private sector, S&P said in a statement. "In our view, any such transactions would likely be on terms less favorable than the debt being refinanced, which we, in turn, would view as a de facto default according to Standard & Poor's published criteria," the agency said. [ link to www.cnbc.com]
|
|
Please verify you're human:
|
|
Reason for reporting:
|