Investors Worldwide Take S&P’s European Downgrades In Stride Hot

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The European Financial Stability Facility issued six-month debt for the first time Tuesday, selling a healthy $1.9 billion worth of securities a day after the fund lost its top credit rating, BusinessWeek reported.

S&P’s bailout fund downgrade was a consequence of its previous European downgrades, since the fund is backed by the credit of member countries.

Most analysts believe flurry of European downgrades already had been taken into account in world markets, and don’t expect the actions to affect markets significantly.

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