Saturday October 31, 2020

Bondholders ignore Moody's junk rating for Ireland

As Ireland tries to persuade Moody’s Investors Service to ditch its junk rating, the reality is bondholders stopped caring more than a year ago.

18th January, 2013
With an end in sight to Ireland's property crash, bondholders are ignoring Moody's junk rating for Ireland

As Ireland tries to persuade Moody’s Investors Service to ditch its junk rating, the reality is bondholders stopped caring more than a year ago.

The yield on benchmark Irish October 2020 notes dropped four basis points to 4.15 per cent today, the lowest since they were sold three years ago. That compares with more than 13 per cent the day before Moody’s lowered the nation’s debt to Ba1, one level below investment grade,...

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