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Greek Debt Chief Says Ratings Companies' Actions Forced Investors to Sell

Ratings actions forced investors to cut holdings of Greek bonds, creating a market where there are only sellers of the securities, Petros Christodoulou, head of the nation’s debt agency, said today at a conference in London.

The debt chief said he is optimistic Greece’s austerity program will succeed and encourage investors to return to the market, though that “won’t happen overnight.”

To contact the reporter on this story: Matthew Brown in London at mbrown42@bloomberg.net

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