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5 EU nations to be downgraded by S&P

Posted By -NO AUTHOR- On 01/13/2012 @ 5:30 pm In Front Page,Money,World | No Comments

Standard & Poor’s will cut the credit ratings of Italy, Spain and Portugal by two notches and downgrade France and Austria by one notch, a French newspaper said Friday, without citing its sources.

The newspaper, Les Echos, said that S&P would spare Germany, the Netherlands, Finland and Luxembourg in its long-awaited adjustment of euro zone sovereign ratings.

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