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S&P cuts Ireland's credit ratings

11-25-2010 08:50 BJT Special Report:EU, Ireland agree on bailout |

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Standard & Poor's lowered its credit ratings on Ireland, just ahead of the country's plan to publish a four-year austerity plan. The widely expected downgrade cites the country's imminent EU-IMF bailout and its long-term struggle to reduce deficits and return to stable growth.

The New York-based agency lowered its long-term rating on Ireland's financial reliability by two notches to A one from double A minus and kept a negative outlook, meaning further downgrades are possible. The measurement on short-term risks also fell one notch.

Editor:Xiong Qu |Source: CNTV.CN

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