NEW YORK (Commodity Online): The Standard & Poor's has stated that even if the EU comes to an agreement with bondholders on a “voluntary haircut”on Greek debts, the ratings agency will see it as a default.
In short, the agency is indicating that Greece will be classified as a defaulting nation whether it pay the loan or not- whatever, Greece and EU does with these loans, a default is a given.
Earlier, Fitch had also echoed the same sentiment and also given a date for the Greek default. In an interview with Bloomberg, Fitch ratings Managing Director Edward Parker says that Greece is likely to default on a 14.5 billion Euro bond payment due on March 20.
“The so-called private sector involvement, for us, would count as a default, it clearly is a default in our book. So it won’t be a surprise when the Greek default actually happens and we expect it one way or the other to be relatively soon”, he was quoted
