February 27, 2012 / 9:49 PM / 5 years ago

S&P cuts Greek sovereign debt to selective default

1 Min Read

NEW YORK (Reuters) - Standard & Poor's on Monday cut Greece's credit rating to SD, or selective default, after the Greek government amended the original rules governing some of its sovereign debt to bind all private bondholders to a bond swap necessary to complete a 130-billion-euro rescue package.

Reporting By Daniel Bases and Walter Brandimarte; Editing by Chizu Nomiyama

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