MW: ECB suspends minimum rating threshold for Portugal
By Polya Lesova
LONDON (MarketWatch) -- The European Central Bank has decided to suspend the application of the minimum credit rating threshold for debt instruments by the Portuguese government, ECB President Jean-Claude Trichet said Thursday at his monthly news conference in Frankfurt. He said the ECB will issue a statement with more details on the move later this afternoon. "In the case of Portugal, we are waiving the threshold. In the case of Greece, where we have the issue of [private-sector involvement], we say no to selective default," he said. Trichet added that European governments should stick to the international doctrine on private-sector involvement.
