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Irish Banks Hit With Senior Unsecured Debt Downgrades
Moody’s Investors Service has lowered the ratings on the unguaranteed unsecured senior debt on leading Irish banks, which could see even further downgrades, reports Credit Flux.
Moody’s Investors Service has lowered the ratings on the unguaranteed unsecured senior debt on Bank of Ireland, Allied Irish Bank, EBS Building Society, Irish Life and Permanent, Anglo Irish Bank, and Irish Nationwide Building Society, which could see even further downgrades. Moody’s took the action as a result of a reduction in government support for the banks previously assumed by the credit rating agency.