Eurogroup anticipated Greek downgrades - Juncker
A Greek connection swap plan with individual creditors experienced previously used into account credit rating rating downgrades for instance usual & Poor's choice on Monday to decrease Greece to '[You must be registered and logged in to see this link.]', Eurogroup President Jean Claude Juncker stated inside of a statement.
S&P minimize the [You must be registered and logged in to see this link.]'s long-term ratings to 'selective default', the next ratings company soon after Fitch to proceed using a extensively anticipated downgrade soon after Greece announced a connection swap strategy to lighten its personal debt burden.
Juncker stated that [You must be registered and logged in to see this link.] spot member states experienced used actions to produce instruments issued through the Greek federal government eligible for collateral in monetary coverage operations.
"I glimpse forward to some higher participation of [You must be registered and logged in to see this link.] creditors while in the PSI operation and consider be aware of S&P's intention to upgrade the decrease ratings subsequent the settlement on the connection exchange," Juncker said.
Greece presented a connection swap on Friday below which bondholders will consider losses of 53.5 % about the nominal worth of the Greek holdings, with real losses place at close to 74 percent. (Reporting By Robert-Jan Bartunek and John [You must be registered and logged in to see this link.]'Donnell; Editing by Kim Coghill)
A Greek connection swap plan with individual creditors experienced previously used into account credit rating rating downgrades for instance usual & Poor's choice on Monday to decrease Greece to '[You must be registered and logged in to see this link.]', Eurogroup President Jean Claude Juncker stated inside of a statement.
S&P minimize the [You must be registered and logged in to see this link.]'s long-term ratings to 'selective default', the next ratings company soon after Fitch to proceed using a extensively anticipated downgrade soon after Greece announced a connection swap strategy to lighten its personal debt burden.
Juncker stated that [You must be registered and logged in to see this link.] spot member states experienced used actions to produce instruments issued through the Greek federal government eligible for collateral in monetary coverage operations.
"I glimpse forward to some higher participation of [You must be registered and logged in to see this link.] creditors while in the PSI operation and consider be aware of S&P's intention to upgrade the decrease ratings subsequent the settlement on the connection exchange," Juncker said.
Greece presented a connection swap on Friday below which bondholders will consider losses of 53.5 % about the nominal worth of the Greek holdings, with real losses place at close to 74 percent. (Reporting By Robert-Jan Bartunek and John [You must be registered and logged in to see this link.]'Donnell; Editing by Kim Coghill)