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The increasingly likely move by Athens to ask bondholders for a voluntary debt restructuring would amount to(總計, 等于)a default(違約), Standard & Poor’s warned on Monday as it cut Greece’s credit rating two notches.

標準普爾(Standard & Poor 's)周一警告稱，希臘要求債券持有人自愿進行債務重組的可能性越來越大，這將等同于違約。該公司將希臘的信用評級下調了兩個級距。

The rating agency said demands from countries such as Germany that Athens should extend the debt payment maturities on bail-out loans would probably lead to similar demands on private creditors. “Such private-sector burden sharing would likely constitute a distressed exchange?.?.?.?for which we assign a rating of selective default,” S&P said.

該評級機構表示，德國等國要求希臘延長紓困貸款的償債期限，可能會導致私人債權人面臨類似要求。這種私人部門分擔負擔的做法，可能構成一種廉價的交換……對此，我們給出了選擇性違約的評級。

The downgrade to B, six notches into junk territory, comes after European politicians acknowledged publicly that Greece’s €110bn rescue package was insufficient and more help would be needed.

降級到B,還差六個等級進入垃圾等級（感覺翻譯的不對）,此前歐洲政客公開承認希臘的€1100億救市計劃是不夠的,需要更多的幫助。

Jean-Claude Trichet, European Central Bank president, said on Monday he had “nothing to add or withdraw” from the line taken by the chairman of the weekend’s eurozone meeting who said Greece needed “a further adjustment programme”.

歐洲央行(ecb)行長讓-克勞德?特里謝(Jean-Claude Trichet)周一表示，對于上周末歐元區(qū)會議主席表示希臘需要“進一步調整計劃”的立場，他“沒有什么可以補充或撤回的”。

But the ECB is strongly opposed to a debt restructuring and does not see an extension of maturities – referred to as a debt reprofiling by some politicians – as feasible or effective.

但歐洲央行強烈反對債務重組，不認為延長債務期限(一些政界人士稱之為債務重組)是行之有效的措施。

Investors are confused by the terms used by policymakers to describe restructuring. Eurozone ministers at the weekend excluded the option of restructuring. But German and Greek officials have said “voluntary restructuring” is envisaged. Such a move would see bondholders paid back but at a later date, something S&P says would amount to selective default.

投資者對政策制定者用來描述重組的術語感到困惑。歐元區(qū)各國財長上周末排除了重組的可能性。但德國和希臘官員表示，“自愿重組”是可以設想的。此舉將使債券持有人得到償還，但標準普爾表示，這相當于選擇性違約。

生詞

bondholders
voluntary
notches
extend
default
insufficient
withdraw
opposed
reprofiling
excluded
envisaged