Ireland’s Credit Rating Downgraded

Moody’s has downgraded Ireland’s credit rating from Aa1 to Aa2 on expectations that economic growth will remain muted for the next three to five years.

“Today’s downgrade is primarily driven by the Irish government’s gradual but significant loss of financial strength, as reflected by its deteriorating debt affordability,” Dietmar Hornung, Moody’s senior credit officer and lead analyst for Ireland, said in a statement.

Source: BBC News

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