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S&P cuts 9 nations’ ratings

By Liz Alderman

 |  New York Times  

  January 14, 2012

Standard & Poor’s on Friday stripped France of its sterling credit rating, French Finance Minister Francois Baroin said, but he insisted the country was headed in the right direction and that no ratings agency would dictate the policies of France. His remarks came as the ratings company was expected to also downgrade Italy and several other European countries more severely, according to two European finance officials speaking on condition of anonymity.

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