NICOSIA (AFP) - Standard & Poors Ratings Services said Friday it placed placed its BBB+ long-term and A-2 short-term sovereign credit ratings on Cyprus on CreditWatch with negative implications. We believe the fiscal position of the Cypriot government is no longer sustainable, S&P said in a statement received in Nicosia, just two days after Fitch Ratings said it expected the country would probably need an EU bailout. Due to the departure of the junior coalition party, DIKO, the Cypriot government is, in our opinion, in a weaker position to pass emergency budgetary measures through parliament, a statement said. S&P said the govt has gross financing needs of about five percent of GDP.