Thursday, October 18, 2012

S&P Cuts Cyprus To B From BB

S&P downgraded Cyprus three notches further into junk territory. In June, Fitch cut its rating on Cyprus to double-B-plus, one level into junk territory. Moody's downgraded Cyprus's ratings to B3, placing it six levels into junk territory. The downgrade ended a review launched in June. The outlook is negative.

A further downgrade is possible if Cyprus's financing pressures escalate, S&P said.

Full article from WSJ [here]. (Might require subscription).

No comments:

Post a Comment

Related Post