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EU loses AAA rating in S&P downgrade

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Credit rating agency Standard & Poor's incited the ire of European Union officials on Friday when it snatched away the region's top AAA rating, citing tensions between member states and a deterioration in their overall financial health.

S&P Ratings Debate Doesn’t Show Fraud, Executive Says

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Analysts at Standard & Poor’s, the ratings firm accused by the U.S. of misleading investors about the risks of mortgage bonds that helped ignite the financial crisis, were arguing the merits of their views on debt opinions, not committing fraud, President Doug Peterson said.

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