I believe the FAA only issues a Private pilot certificate based on foreign licenses, regardless if it is a PPL or an ATPL. However, you may get credit for flight experience towards a training program in order to do the required knowledge and practical tests to obtain a FAA Commercial certificate with an Instrument Airplane rating.
Hang on tight though, there have been vague rumours of EASA/FAA mutual recognition following implementation of the revised FCL...
