Standard & Poor's downgrades Cyprus 2 notches to CCC+ over heightened risk of debt default

  • Article by: MENELAOS HADJICOSTIS , Associated Press
  • Updated: December 21, 2012 - 12:35 PM

NICOSIA, Cyprus - The Cyprus government has vowed to do what is needed to finalize a bailout agreement with international lenders after ratings agency Standard & Poor's downgraded Cyprus further into junk status amid concerns that the country could default on its debts.

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baloney2Dec. 23, 1211:17 AM

Why should US citizens worry about Cyprus? Our local governments face far higher hurdles than anyone overseas. Cities,counties,and states sit on fiscal cliffs every day around our wonderful nation. California now sits along with Argentina in terms of credit ratings.Each and every day it slips further down the precipice,and this state pales in comparison with other states and localities. Find a state outside North Dakota which can claim a solid footing for the future liabilities.

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