UPDATE 1-S&P cuts Greece's rating over prolonged talks with lenders

April 15, 2015 6:40 PM

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ATHENS, April 15 (Reuters) - The ratings agency Standard & Poor's on Wednesday cut Greece's credit rating deeper into junk territory, citing worsening economic conditions due to prolonged negotiations between the country and its lenders.

Greece has been locked in talks with its EU and IMF creditors on economic reforms for months and risks running out of cash within weeks if it fails to strike a deal to unlock fresh bailout funds.

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