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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

Do you agree with the UK and US airstrikes on ISIS in Iraq and Syria?
Yes, ISIS has to be stopped.
70%
No, it will just make things worse, and Cyprus is exposed.
23%
Maybe, if it leads to a peaceful solution.
7%
Total votes: 96