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Moody's junks Cyprus credit rating

11.01.13 @ 18:24

  1. By EUOBSERVER

Credit rating agency Moody's has downgraded Cyprus's rating by three notches to junk status as negotiations continue on an EU bailout. It cited ongoing Cypriot government support for ailing local banks as the main reason for the downgrade to Caa3 on Thursday (10 January).

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