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S&P downgrades debt of Citadel's main fund after losses

Standard & Poor's said Tuesday that it downgraded the debt of Citadel Investment Group's main hedge fund because of recent losses.

The agency lowered its long- and short-term counterparty credit ratings on Citadel Kensington Global Strategies Fund and Citadel Wellington, known as Kensington/Wellington, to BBB/A-3 from BBB+/A-2.

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