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The ratings agency Standard & Poor's (S&P) lowered Greece's credit rating to 'CCC+' from 'B-' as Greece could not sign an agreement with its creditors to receive new tranche of loans. S&P believes that Greece will run out of cash if there is no agreement by May 12, when Greece is due to repay the IMF loan of 760 million euro.
The agency also gave Greece a negative outlook.
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