22 December 2012 12:22

 NICOSIA - Standard and Poor’s (S & P) have downgraded Cyprus for the third time since August, reducing it by two notches, from B to CCC +.
According to S & P, the situation in the country "deteriorated further after the recent decline in October," while "the financial pressure intensified" and "uncertainty remains regarding the terms of any official support in anticipation of the presidential elections to be held in February 2013.”