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Moody's: Spain three notches down, Cyprus two
Rating agency Moody’s has cut its rating on Spanish government debt by three notches from A3 to Baa3. Cyprus’s sovereign debt was lowered by two notches from Ba1 to Ba3.
The agency said Wednesday that Spain’s debt burden would increase once the EU has approved a plan to help the country’s banks. It has Spain under further review and could lower its rating even further, Reuters reports....
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