Sign up to The Irish Times Archive (1859 - 2008)My Account »
Tue 06 Jun 2009€3bn State cash injection for Anglo
MINISTER FOR Finance Brian Lenihan has dipped into “cash balances” held by the Exchequer in the Central Bank to provide €3 billion in new capital for the nationalised Anglo Irish Bank, the first cash injection into an institution which may ultimately require €7.5 billion from the State.
Anglo’s recapitalisation came as a senior official with Moody’s credit rating agency said Ireland’s top credit rating is on the “borderline” of a downgrade. Moody’s, which has its AAA rating on Ireland under review for a downgrade, is the only leading agency not to withdraw its triple A rating.
Choose a Subscription type - required
