Text (AL+errata): 0/6, Defender. ; Whenever ~this~ blocks, put a -0/-1 counter on it. [Oracle 2005/08/01]
It gets the -0/-1 counter as a triggered ability when it blocks, which is long before damage dealing. When it is at 0/1 and it blocks, it will die immediately after blocking... but the creature it blocked is still blocked. [bethmo 1996/06/28]