Financial Times February 27 S&P puts Greece in selective
default
S&P on Monday night declared that Greece was in
selective default on its long and short-term ratings, pointing to the terms of
the sovereign debt deal offered to private bondholders last week. http://www.ft.com/cms/s/9dffdd30-6147-11e1-a738-00144feabdc0.html
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Greece Ratings Cut to Selective Default by Standard and Poor
http://www.bloomberg.com/news/2012-02-27/greece-ratings-cut-to-selective-default-by-s-p.html
http://www.bloomberg.com/news/2012-02-27/greece-ratings-cut-to-selective-default-by-s-p.html
By Greg Chang - Feb 27, 2012 4:36 PM ET
Greece had
its long-term sovereign credit ratings cut to selective default from CC by
Standard & Poor’s Ratings Services, which cited an action by Greece’s
government regarding its sovereign debt that began a “distressed debt
restructuring.”
The downgrade was triggered after Greece retroactively
inserted collective action clauses in the documentation of certain sovereign
debt series last week, according to S&P.
Greece Ratings Cut to Selective Default by Standard and Poor
Orestis Panagiotou/Landov
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