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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.
Moodys Investors Service has downgraded some 31.4 billion ($43.51 billion) of Irish residential mortgage-backed securities as a result of the countrys weak economy and risks associated with the banks. Moodys 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.