S&P downgrades Italy's credit rating

09/20/2011 | Bloomberg · Reuters · Wall Street Journal, The

Standard & Poor's cut Italy's credit rating because of concern that the government will fail to reduce its debt burden, combined with a slowdown in economic growth. The downgrade drove down the euro against the U.S. dollar, as investors grow increasingly concerned about European officials' ability to contain the sovereign-debt crisis.

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Bloomberg · Reuters · Wall Street Journal, The

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