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Government-Back Irish Banks Turned To Junk

Moody’s Investors Service has downgraded the long-term debt deposit ratings of Allied Irish Banks, Bank of Ireland, EBS Building Society, Irish Life & Permanent and ICS Building Society after lowering the Irish government’s bond ratings two notches to Baa3.

Moody’s Investors Service has downgraded the long-term debt deposit ratings of Allied Irish Banks, Bank of Ireland, EBS Building Society, Irish Life & Permanent and ICS Building Society after lowering the Irish government’s bond ratings two notches to Baa3. The outlook on the long-term bank deposit and unguaranteed senior unsecured debt ratings of these institutions is negative, in line with the outlooks on the government rating and on the stand-alone ratings of the banks, according to Moody’s.

Click here to read the release from Moody’s.

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