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Ireland Downgraded By Standard+poor's

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Standard & Poor’s Ratings Services today said it had lowered its long-term sovereign credit rating on the Republic of Ireland to ‘AA’ from ‘AA+’. The outlook is negative. At the same time, Standard & Poor’s has affirmed its ‘A-1+’ short-term rating on the Republic

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Strange that there were all kinds of rumours afoot then S&Ps release this: YIKES!

Standard & Poor's has lowered its long-term sovereign credit rating on the Republic of Ireland to 'AA' from 'AA+'. The outlook is negative.

Edited by gruffydd

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Strange that there were all kinds of rumours afoot then S&Ps release this: YIKES!

Standard & Poor's has lowered its long-term sovereign credit rating on the Republic of Ireland to 'AA' from 'AA+'. The outlook is negative.

Only surprise is that it is rated double rather than single A

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Guest An Bearin Bui
Strange that there were all kinds of rumours afoot then S&Ps release this: YIKES!

Standard & Poor's has lowered its long-term sovereign credit rating on the Republic of Ireland to 'AA' from 'AA+'. The outlook is negative.

Gulp... :blink: Isn't this the second downgrade? It was AAA at peak, I think. AA is getting close to Mexican levels...! Ruling Fianna Fail party were also hammered in the recent European elections so could be a GE there soon

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Gulp... :blink: Isn't this the second downgrade? It was AAA at peak, I think. AA is getting close to Mexican levels...! Ruling Fianna Fail party were also hammered in the recent European elections so could be a GE there soon

Personally think they'd be mad to get out of the EU - without the EU they're gonna be Icelanded. The EU is their only hope at this moment in time. Saw S&Ps mentioned 100% net gvmnt debt problem. What's the projection in the UK?

Edited by gruffydd

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"Taking these factors and NAMA's likely borrowings into account, along with our revised estimate of recapitalization costs to the government of €20-€25 billion (compared with our previous estimate of €15-€20 billion), we now believe that Ireland's net general government debt could exceed 100% of GDP over the medium term-–a level that is higher than for Ireland's 'AA' rated Euro-zone sovereign peers. "

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