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JUN 28, 2013 - Eurasia Review

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S&P Downgrades Cyprus

Standard & Poor’s Ratings Services has lowered its long- and short-term sovereign credit ratings on Cyprus to ‘SD’ (selective default) from ‘CCC/C’, the agency reported Friday. The move came after the Cypriot government announced an exchange offer on some of its local law governed bonds. According to S&P, the exchange materially changes the terms of [...]The post S&P Downgrades Cyprus appeared first on Eurasia Review.

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