S&P lowers Greece sovereign credit rating

(Reuters) - Standard & Poor's Ratings Services lowered its sovereign rating on Greece to 'CCC minus' from 'CCC', saying the probability of Greece exiting the eurozone was now about 50 percent. A Greek official told Reuters on Monday the country would not pay a 1.6 billon euro loan instalment due the International Monetary Fund on Tuesday. S&P said according to its assessment Greece would likely default on its commercial debt during the next six months.