S&P May Post Greece As “Selective Default”
As Greece battles unsuccessfully with its private creditors, S&P worries that there will not be no negotiated conclusion for the two sizes to settle on revised debt provision. S&P, therefore, may put Greece’s rating to “selective default”, a sign it…
As Greece battles unsuccessfully with its private creditors, S&P worries that there will not be no negotiated conclusion for the two sizes to settle on revised debt provision. S&P, therefore, may put Greece’s rating to “selective default”, a sign it will force these private creditors to take terms which they have not accepted.
“It’s not a given that Greece’s default would have a domino effect in the euro zone,” John Chambers, the chairman of S&P’s sovereign rating committee, said in an event organized by Blooomberg Link.
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