Why It Won't Be a Default If Greece Misses IMF Payment Next Week

``The three major credit-rating companies have also said failure to pay the IMF wouldn't constitute a formal default. So while the practical consequences for Greece may be temporary and small as long as the nation remains in talks with creditors for an accord, the blow to the IMF's reputation as the world's lender of last resort could be longer-lasting, making it tougher for the fund to win support for some future bailouts.''