Friday, November 26, 2010

Irish banks get downgraded

Ireland's banks were hit with downgrades Friday — one to junk bond status

The New York-based Standard & Poor's credit ratings agency said it was lowering Anglo Irish Bank six notches to a junk-bond B grade. It also cut the ratings on Bank of Ireland one notch to BBB+, and downgraded both Allied Irish Banks and Irish Life & Permanent one notch to BBB.

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