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Standard & Poor's Downgrades Greece's Credit Rating as Banks Close and ATM Withdrawals are Capped
As Greece's financial situation deteriorates even further, the credit rating agency of Standard & Poor's has downgraded the country into CCC- status (the sixth lowest of 24 possible ratings). S&P said in a statement that it interprets the Greek government's decision to hold a referendum on a bailout deal proposal as an indication that the country "will prioritize domestic politics over financial and economic stability, commercial debt payments and eurozone membership." This comes only...

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