News Headline Summary

S&P says risk of debt default in Cyprus is material

- Could revise outlook on Portuguese debt to stable if further progress is made.
- German AAA rating indicates that a downgrade is unlikely in next 2 years.
- Sees reduced chance of Greek exiting the Eurozone bloc.

Update details:

- All three major ratings agencies have Cyprus on negative outlook.
- Moody's rates at Caa3, S&P at CCC+ and Fitch at B.

Print 09:40, 20 Feb 2013 - Rating Agency comments - Source: Newswires