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Thu 11 Nov 2009Fitch cuts Ireland's credit rating due to downturn
RATINGS AGENCY Fitch yesterday cut Ireland’s credit rating by two notches, citing the severity of the economic and fiscal downturn.
The move – the second in just over six months after a cut in April – reduced Ireland’s sovereign rating to “AA-” from “AA+”, skipping the “AA” rating. But the agency put the outlook for the rating going forward on stable due to the Government’s aggressive measures to solve the problems.
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