From Bloomberg (Terminal):
- EFSF LENDING CAPACITY MAY DROP TO EU293 BLN, CULLINAN SAYS
- EURO RESCUE FUND'S CAPACITY MAY FALL BY A THIRD, CULLINAN SAYS
- EURO RESCUE FUND MAY SHRINK ON FRANCE DOWNGRADE, CULLINAN SAYS
- S&P SOVEREIGN RATINGS DIRECTOR CULLINAN COMMENTS IN E-MAIL
The highlights in Red are the important part, being this email is from the S&P rating's agency and more specifically the director of Sovereign Ratings.
AH.... maybe Cullinan might be more careful about what is contained in emails because on the face, this looks like an S&P cut of France is a done deal.
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