Saturday October 24, 2020

Downgrade puts pressure on Iseq

Despite the cautious mood among investors, a lot of Irish corporates are holding up well

16th July, 2011

Ireland became the latest entrant to a not-so-desirable club last week, when credit ratings agency Moody’s downgraded Irish bonds to junk status.

The credit ratings agency said its decision to push Ireland beyond the realm of investment grade bonds was due to the growing possibility that a further bailout would be needed in 2013, when the current package of financial support expires.

The move came a week after Moody’s also downgraded Portugal’s debt rating...

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