http://www.bangkokpost.com/news/world/327305/s-p-cuts-cyprus-rating-to-ccc
Standard and Poor's slashed Cyprus' credit rating Thursday by two
notches to CCC+, saying the eurozone member was facing increasing
financial pressure, with bailout negotiations still unfinished.
"With the government's financing options increasingly limited --
coupled with what we view as the hesitant attitude of Cyprus' eurozone
partners toward sharing the cost of a severe banking crisis -- we view
the risk of a sovereign debt default as considerable and rising," the
ratings agency said.
The S&P downgrade puts Cyprus even further into junk territory. It also issued a negative outlook.
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