June 15, 2015 / 1:20 PM / 4 years ago

Greek non-payment of ECB bonds would not mean default rating-S&P

ATHENS, June 15 (Reuters) - Failure by Greece to repay 6.7 billion euros worth of bonds held by the European Central Bank and maturing at the end of July would not constitute default under Standard and Poor’s criteria, the ratings agency said on Monday.

It said its sovereign ratings criteria related to a government’s ability and willingness to service obligations to commercial creditors and it considered the ECB as an official creditor.

It said nonpayment would be seen as a negative factor and could lead to a lower long-term rating than the current CCC rating but it would not constitute selective default (SD). (Reporting by James Mackenzie)

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