December 20, 2012
Standard & Poor's Downgrades Cyprus’s Long-Term Sovereign Credit Rating from B to CCC+.
January 27, 2012
Fitch Downgrades the Long-Term Issuer Default Ratings of Belgium, Cyprus, Ireland, Italy, Slovenia and Spain.
November 4, 2011
Moody's Downgrades Cyprus's Government Bond Rating from Baa1 to Baa3.
August 10, 2011
Fitch Downgrades Cyprus’ Long-Term Foreign Currency Issuer Default Rating from A- to BBB.
July 27, 2011
Moody's Downgrades Cyprus's Government Bond Rating from A2 to Baa1.
Buchheit, Lee C. and Gulati, G. Mitu. "Walking Back from Cyprus." Draft - March 18, 2013.