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Egan-Jones cuts Italy to CCC-plus, outlook negative

NEW YORK, July 25 | Wed Jul 25, 2012 1:53pm EDT

NEW YORK, July 25 (Reuters) - Credit ratings agency Egan-Jones on Wednesday cut Italy's sovereign rating to CCC-plus from B-plus with a negative outlook, citing the country's stumbling regional governments.

"Italy cannot support all of its debt if the EU economy falters," Egan-Jones said in a statement.
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