It was a day dominated by ratings downgrades and Davos interviews. Here are the day’s top business stories.
**The ratings agency**, Fitch Ratings, has downgraded the debt ratings of Spain, Italy, Belgium, Cyprus and Slovenia. Ireland has had its ratings affirmed by Fitch.
**A scheme** to swap Aer Lingus's assets for long-term bonds with the National Treasury Management Agency (NTMA) has been proposed as a way of tackling the airline's €722 million pension...
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