Tuesday, 28 February 2012 05:28 'Standard & Poor's Ratings Services has downgraded Greece’s sovereign credit rating to 'selective default' in response to the country’s decision to involve the private sector in its comprehensive debt restructuring. Greece’s move “constitutes the launch of what we consider to be a distressed debt restructuring,” the US ratings agency said on Monday. Greece has become the first eurozone member in its 13-year history to be officially rated in default, down from its previous rating of ‘CC’.' Read more: S&P Downgrades Greece's Sovereign Credit Rating to Selective Default
Tuesday, 28 February 2012
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