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cyprus downgrade

S&P's Cuts Cyprus Sovereign Credit One Notch to BBB

standard&poors cyprusStandard & Poor's Rating Services has cut Cyprus' long-term sovereign credit rating by one notch to BBB from BBB+ and the short-term rating to A-3 from A-2.

The main reasons for the downgrade are the island's exposure to Greek debt and the potential for a further devaluation of Greece's sovereign bonds.

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Poll

Are the authorities doing enough to prosecute those accountable for Cyprus' financial crash?
Yes, but it takes time to find evidence
5%
No, they are not moving fast enough
58%
Don't know
36%
Total votes: 55