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Credit cut raises pressure on Spain to ask for aid

Spain came under renewed pressure to formally ask for a financial bailout after a ratings agency cut the country's credit worthiness to one point above junk.Immediately after the move by Standard and Poors, the cost of borrowing spiked, but fell back.Spain's economy is in a mess and the agency said that Madrid's refusal to ask for aid could pull the credit rating down still further....

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