20-Dec-2010 1:43 PM

Ireland's credit rating downgraded by Moody's

Ireland’s credit rating was downgraded five levels by Moody’s Investors Service and further downgrades are possible as the government struggles to contain losses in the country’s banking system (Reuters/Bloomberg, 17-Dec-2010. The rating was lowered from Aa2 to Baa1 with a "negative" rating outlook.