Moody's cuts Ireland credit rating to junk status

[Bosonic]

Source: Irish Times

Moody's has tonight cut Ireland's credit rating to junk.

The ratings agency said it was downgrading the country's bond ratings by one notch to Ba1 from Baa3 with a negative outlook.

Ireland joins Portugal and Greece in becoming the third euro zone country to have its ratings cut to junk. Portugal's rating was cut four levels to Ba2 just over a week ago.


Read more: http://www.irishtimes.com/newspaper/breaking/2011/0712/breaking54.html

[Ken Burch]

1. UH...is that "junk" in the Anthony Weiner sense?

:wow:

[liberation]

2. And what about Moody's ratings themselves

Garbage?

[tcaudilllg]

4. As of now? Yes.

I think it would just take a day of protests by the Irish to bring Moody's to its knees.

But it would have to be against Moody's.

The credit ratings orgs... THAT'S who we've been missing.

[villager]

5. Indeed, who actually signed off on giving unelected private entities the power

...to "rate" a nation/state government's "worthiness?"

[ProgressiveProfessor]

10. Free Speech Issue...only power they have is with those who heeded them

[Whoa_Nelly]

3. Recession is such a last century word...even last decade...

This is pointing toward another global depression.

[ixion]

6. Yep, it is

and one larger than the last 'great' one.

[Cereal Kyller]

7. No "speed-of-light interconnected planet" in 1929

:(

[Ragnarok]

8. When money gets tight...

...people look for ways to express their anger. Often times, it comes out in violence against people who are different from them in some way. Look for renewed popularity of the RIRA. Overly simple solutions to complex problems start to sound appealing. It might just be a messy summer in Belfast.

[JackRiddler]

9. Moody's seized, executives charged with fraud on housing securities.

Those fuckers have nerve passing judgement on anything.

[laser_red]

11. look on the bright side... bondholders get higher yield .nt

[marasinghe]

12. Moody's: official ratings agency to junk dealers worldwide - since the mortgage derivatives fiasco.