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Fri 06 Jun 2009Anglo rating downgraded
Moody's has downgraded its senior debt rating for Anglo Irish Bank and warned that it may move to downgrade AIB, Bank of Ireland, Irish Life & Permananent and ICS Building Society in the near future.
The ratings agency said it had reduced Anglo's rating from A2-to A3- because of concerns over challenges faced by the bank. The move follows the release of Anglo's half-year results which showed the bank during which the bank incurred a pretax loss of €4.1 billion in the six months to March as the value of land and development assets plummeted.
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