S&P downgrades Ireland to A



Dreaded_Estate

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Ireland's Credit Rating Cut Two Levels to A by S&P After Bailout Package - Bloomberg

Ireland had its long-term sovereign rating cut to ‘A’ from ‘AA-’ and its short-term rating to ‘A-1’ from ‘A-1+’ by Standard & Poor’s Ratings Services, which cited concerns about additional borrowing by the government as it seeks external aid from the IMF and the European Union.

“The lower ratings reflect our view that the Irish government looks set to borrow over and above our previous projections to fund further bank capital injections into Ireland’s troubled banking system,” S&P said in a statement.

External aid will “not reduce the government’s large contingent liabilities or eliminate the negative macroeconomic pressures weighing on asset quality,” it also said.
 

picador

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What do you have to do to get a B?
 

He3

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Oct 1, 2008
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That's another corner turned. Every one knows we can't pay the bankers' debts.
 

Cassandra Syndrome

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I think we are just 2 levels above Junk now.
 

Kalan

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Feb 27, 2010
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now or?

Default now or later, only means of escape.
 


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