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Wed 02 Feb 2009IL&P share price dips almost 13% following downgrade
SHARES IN Irish Life & Permanent (IL&P) fell 12.8 per cent after the company’s debt ratings were downgraded by international credit rating agency, Moody’s.
The rating was cut from the top AAA-rating – an indication of financial strength and a company’s ability to repay its borrowings – to A1. This will mean the company will have to pay investors higher interest for funding as it is regarded as a slightly higher risk.
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