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S&P lowers Israel's U.S.-backed bonds

S&P lowers Israel's U.S.-backed bonds
A man gazes at the electronic share price board in Tokyo, Japan, on August 8, 2011. Global stock markets were lower on Monday as investors were worried about the downgrade by Standard & Poor's decision to downgrade its triple A credit rating for the United States. UPI/Keizo Mori | License Photo

NEW YORK, Aug. 8 (UPI) -- All U.S.-guaranteed sovereign bonds issued by Israel were downgraded one notch Monday, Standard & Poor's rating services said.

"This rating action is in line with the rating action on the United States of America that took place on Aug. 5, 2011," Standard & Poor's said in a statement on its Web site.

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S&P Friday downgraded the U.S. credit rating from AAA to AA+, which wreaked havoc on global markets when they opened for trading Monday.

The sovereign credit ratings on Israel were not changed by the bonds downgrade, S&P said.

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