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S&P downgrades Georgia
Standard & Poor's said it lowered the long-term sovereign credit ratings on the Government of Georgia to B from B+ and placed ratings on CreditWatch with negative implications.
The B short-term ratings were also placed on CreditWatch with negative implications.
S&P said the actions come as the sovereign moves rapidly toward all-out war with Russia (foreign-currency BBB+/positive/A-2).
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