Bloomberg News

Greece Debt Exchange Would be a Default, S&P’s Chambers Says

January 24, 2012

(See {EXT4 <GO>} for more on the Link Conference.)

Jan. 24 (Bloomberg) -- Standard & Poor’s would still consider any debt relief being negotiated by European finance ministers as a default, according to John Chambers, managing director of sovereign ratings.

“In all likelihood, the very least that would happen in Greece is an exhcnage that would qualify by our criteria as a default,” Chambers said at the Bloomberg Sovereign Debt Crisis Conference hosted by Bloomberg Link in New York today.

To contact the editor responsible for this story: Dave Liedtka at dliedtka@bloomberg.net


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