Another ratings agency threatens to downgrade Ireland
Decision expected from Moody’s in about three months
Another credit rating agency has threatened to downgrade Ireland’s rating as the economy continues to take a battering over the colossal bail-out for Ireland’s banks.
Moody’s, the credit rating agency in question, said that as well as the bank bail-out, the Irish economy did not show great prospects of recovery and that Irish bond yields had risen sharply since July, when they last rated Ireland. At that time, they cut Ireland’s rating by one notch.
"Ireland's ability to preserve government financial strength faces increased uncertainty as a result of (these) three main drivers, which together would further increase its debt and aggravate its debt affordability," Dietmar Hornung, Moody's lead sovereign analyst for Ireland, said.
The review of Ireland’s rating will center on the Government’s ability to preserve financial strength in the current economic climate, and stick to its new four-year fiscal plan when it is delivered in November. It is likely to be finished within three months.
If Moody’s downgrades Ireland, it is likely to be by just one notch – it is currently rated at Aa2 – which would still leave Ireland rated more highly by Moody’s than by two other major ratings agencies, Fitch and Standard & Poor’s.
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Ireland...a beautiful country currently beset with poor job prospects for most of her native born. And the solution is to import huge numbers of immigTop Christmas Irish ads that will be bring a tear to your eye (VIDEOS)
It will be bring a tear to my eyes to see your headline. Still, I know proofreader don't come cheap these days. IC thinks they same price as junk boSarah Palin is saving Christmas
Oops, "whatever"Gay teacher fired from Catholic school after applying for same-sex marriage license
What the arrogant conservatives posting here don't realize is that he was openly gay for years and beloved by his students and faculty alike. They are