S&P downgrades Greece, warns time limited for a deal with creditors

Standard & Poor's cut Greece's long-term sovereign credit rating to B- from B on Friday, warning that liquidity restraints on Greek banks would limit the time the new government has to clinch a deal with its creditors. Left-wing Prime Minister Alexis Tsipras was elected barely two weeks ago on a promise to scrap unpopular austerity measures imposed under a 240 billion euro (177 billion pounds) international bailout and write off a chunk of the country's debt. In addition, the