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BREAKING NEWS

Spain's credit rating downgraded; causes Euro drop

By ASSOCIATED PRESS, JPOST.COM STAFF
Fitch Ratings cut Spain's credit rating Friday, saying the Spanish government's efforts to reduce debt would weigh down economic growth.
The ratings agency dealt a blow to state efforts to shore up confidence in its finances by cutting the country's rating one notch from AAA to AA plus.
The rating cut has led to a wave of traders betting against the Euro which is expected to continue its recent decline.
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