http://www.businessweek.com/news/2013-01-11/can-russia-rescue-cyprus-after-moodys-downgrade

Bloomberg News

Can Russia Rescue Cyprus After Moody's Downgrade?

January 11, 2013

Cyprus’s credit rating was cut three steps to Caa3 by Moody’s Investors Service, citing the government’s projected increased debt load from the need to recapitalize its banking system.

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