In further agitation to the debt crisis and amid mounting fears over the rumors of Greece leaving the euro, Standard & Poor's added salt to injury by cutting their credit rating by two levels.

S&P cut Greece's credit rating by two levels to B from BB- and said further reductions are possible. S&P said in a statement today that the downgrade reflects our view of increasing sentiment among Greece's key euro-zone official creditors to extend the debt payment maturities of their 80 billion euros ($115 billion) of bilateral loans pooled by the European Commission,