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S&P ratings agency knocks Cyprus, already at junk grade, down to 'selective default'

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(Globalpost/GlobalPost)

NEW YORK, N.Y. - Standard

The Cypriot government is swapping some local bonds for longer-term bonds. Though that eases some of the immediate liquidity pressure on Cyprus, the S

Cyprus agreed to a 23 billion euro ($30 billion) bailout deal in March with its eurozone partners and the IMF.

The S

http://www.globalpost.com/dispatch/news/the-canadian-press/130628/sp-ratings-agency-knocks-cyprus-already-at-junk-grade-down-s