Ireland’s Credit Rating Cut Five Levels by Moody’s With a Negative Outlook
December 17th, 2010Via: Bloomberg:
Ireland’s credit rating was cut five levels by Moody’s Investors Service and further downgrades are possible as the government struggles to contain losses in the country’s banking system.
The rating was lowered to Baa1 from Aa2, Moody’s said in an e-mailed statement from London today. That’s three levels above non-investment grade and the same level as countries including Russia and Lithuania. The outlook on the rating is “negative,” Moody’s said.
