(June 7) "Moody's Says Greek Debt Rollover Would Be a Default"
Any private-sector debt rollover as part of an agreement to provide financing to Greece would likely be considered a default by Moody's Investors Service, a senior executive said Tuesday, arguing it was hard to say how a rollover could be deemed voluntary.
"If it's voluntary, then it falls outside the default definition," said Bart Oosterveld, head of the sovereign-risk group at Moody's. But he said: "It's hard to imagine in the current circumstances how it could be voluntary."
Speaking to reporters in Paris, Mr. Oosterveld said such a rollover "would likely constitute a credit event.
Any private-sector debt rollover as part of an agreement to provide financing to Greece would likely be considered a default by Moody's Investors Service, a senior executive said Tuesday, arguing it was hard to say how a rollover could be deemed voluntary.
"If it's voluntary, then it falls outside the default definition," said Bart Oosterveld, head of the sovereign-risk group at Moody's. But he said: "It's hard to imagine in the current circumstances how it could be voluntary."
Speaking to reporters in Paris, Mr. Oosterveld said such a rollover "would likely constitute a credit event.
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