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S&P lowers Portugal, Greece, spreading fears of European debt crisis

Giuseppe

Giuseppe

Emeritus
S&P lowers Portugal, Greece, spreading fears of European debt crisis

[Source: Kyodo, View Original Article.]

Standard & Poor's on Tuesday lowered ratings of debt-ridden Portugal and Greece substantially, raising fears that the debt crisis in Europe could spiral out of control. The U.S. credit rating agency said Greece's long-term debt has been downgraded by three notches, from BBB-plus to junk-status BB-plus. As a result, the country's debt is no longer regarded investment grade.
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