Ratings agency Standard & Poor's has cut Greece's credit rating, saying that eurozone plans to restructure the country's debts would constitute a "selective default".
Under the plans, Greece would be given longer to repay its debts and private investors would take a hit.
S&P said it had cut Greece's rating to CC from CCC.
Under the plans, Greece would be given longer to repay its debts and private investors would take a hit.
S&P said it had cut Greece's rating to CC from CCC.
