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Thu 04 Apr 2009Fitch cuts Ireland's AAA rating by one level to AA-plus
FITCH RATINGS cut Ireland’s AAA ratings by one level to AA-plus, the second-highest, citing a severe economic downturn taking a “heavy toll” on public finances. Fitch also said it holds a negative outlook for Ireland, suggesting more cuts may come.
“The outlook for Ireland’s public finances and fiscal risks is no longer consistent with an ‘AAA’ rating,” Fitch said in a statement.
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