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Silvio Berlusconi says "credit rating agency S&P's opinions on Italy seems to stem from media views more than reality

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Standard and Poor's cut its unsolicited ratings on Italy by one notch, warning of a deteriorating growth outlook and damaging political uncertainty, in a move that took markets by surprise and added to pressure on the debt-stressed euro zone.


S&P's downgraded its unsolicited ratings on Italy to A/A-1 from A+/A-1+ and kept its outlook on negative, sending the euro more than half a cent lower against the dollar.


The agency, which put Italy on review for downgrade in May, said that the outlook for growth was worsening and there was little sign that Prime Minister Silvio Berlusconi's fractious center-right government could respond effectively.



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Read Reuter's wrapups:


http://www.reuters.com/article/2011/09/20/eurozone-idUSL3E7KK0MS20110920


http://www.reuters.com/article/2011/09/20/us-italy-sp-idUSTRE78I6LW20110920

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