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Tue 03 Mar 2009Ireland is downgraded by leading credit rating agency
IRELAND HAS lost its prized “AAA” credit rating from ratings agency Standard & Poor’s, which yesterday downgraded its outlook for the Irish economy, blaming the deterioration in public finances.
In a move that will make the cost of Government borrowing more expensive and put further pressure on the economy, Standard & Poor’s lowered Ireland’s rating from AAA, the top rating possible, to AA+.
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