Moody's cuts Ireland to junk, warns of 2nd bailout

Reuters News
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Posted: Jul 12, 2011 3:49 PM
Moody's cuts Ireland to junk, warns of 2nd bailout

NEW YORK (Reuters) - Moody's Investors Service on Tuesday cut Ireland's credit rating to junk status, saying the country will likely need additional rounds of official financing before it can return to international capital markets.

Moody's cut Ireland's ratings by one notch to Ba1 from Baa3 and kept a negative outlook on the rating.