This content is from: Innovation
Moody’s Downgrades Irish RMBS
Moody’s Investors Service has downgraded some €31.4 billion ($43.51 billion) of Irish residential mortgage-backed securities as a result of the country’s weak economy and risks associated with the banks, reports Reuters.
Moody’s Investors Service has downgraded some €31.4 billion ($43.51 billion) of Irish residential mortgage-backed securities as a result of the country’s weak economy and risks associated with the banks. Moody’s say it anticipates “further deterioration in the performance of Irish pool of residential mortgage loans in the coming months,” citing high levels of negative equity and a lack of credit for refinancing.