商务英语04

###原文

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

标准普尔(Standard & Poor 's)周一警告称，希腊要求债券持有人自愿进行债务重组的可能性越来越大，这将等同于违约。该公司将希腊的信用评级下调了两个级距。

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.

该评级机构表示，德国等国要求希腊延长纾困贷款的偿债期限，可能会导致私人债权人面临类似要求。这种私人部门分担负担的做法，可能构成一种廉价的交换……对此，我们给出了选择性违约的评级。

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.

降级到B,还差六个等级进入垃圾等级（感觉翻译的不对）,此前欧洲政客公开承认希腊的€1100亿救市计划是不够的,需要更多的帮助。

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”.

欧洲央行(ecb)行长让-克劳德•特里谢(Jean-Claude Trichet)周一表示，对于上周末欧元区会议主席表示希腊需要“进一步调整计划”的立场，他“没有什么可以补充或撤回的”。

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.

但欧洲央行强烈反对债务重组，不认为延长债务期限(一些政界人士称之为债务重组)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.

投资者对政策制定者用来描述重组的术语感到困惑。欧元区各国财长上周末排除了重组的可能性。但德国和希腊官员表示，“自愿重组”是可以设想的。此举将使债券持有人得到偿还，但标准普尔表示，这相当于选择性违约。

生词

bondholders
voluntary
notches
extend
default
insufficient
withdraw
opposed
reprofiling
excluded
envisaged