Greece: Unlikely official debt relief in next few days agreed - S&P

FXStreet (Bali) - Following news that S&P lowered Greece's sovereign credit rating to CCC from CCC+, the rating agency adds that Greece delaying payment to IMF on June 5, appears to demonstrate government prioritizing pension, domestic spending over debt service obligations, Reuters reports.

Additional headlines - via Reuters

S&P says "as its liquidity position continues to deteriorate, greece appears to be prioritizing other spending items over debt servicing"

S&P - Greece's outlook is negative, given the risk of a further worsening of liquidity for the sovereign, its banks, and the economy

S&P-"in our view, without a turnaround in the trajectory of nominal gdp and deep public-sector reform, Greece's debt is unsustainable"

S&P says absence of deal between Greece and official creditors, "Greek govt will likely default on its commercial debt within the next 12 months"

S&P-on Greece,"we do not consider it likely that there would be any official debt relief or more substantial financing agreed to in the next few days"

S&P - the uncertainty around Greece's relations with its creditors and its broader political stability is weighing on the economy

S&P -do not consider likely there would be official debt relief or more substantial financing in next few days agreed between greece,official creditors