Mediafax (Mediafax)
Finance  |  December 20, 2010 16:10:05

Moody's downgraded rating of five Irish banks


Mediafax

DUBLIN (MEDIAFAX) - ¨ Moody's downgraded five deposits and debts of Irish financial institutions. The Agency shall notify in its Monday report.

Relates to downgrade banks Allied Irish Banks, Bank of Ireland, EBS Building Society, Irish Life & Permanent and Irish Nationwide Building Society.

The reduction follows the rating agency action on Friday when long-term debt rating slashed Ireland itself about five degrees from "Aa2" to "Baa1". This downgrade of Ireland's banking sector was weak and uncertain economic outlook.

Dublin 21st November asked the European Union (EU) and International Monetary Fund (IMF) for financial assistance. Total should reach 85 billion euros (2.1 trillion CZK). Of this amount will be donated € 35 billion (CZK 880.4 billion) in the Irish banking sector, while 50 billion euros (1.26 billion CZK) alone gets Ireland to meet its budgetary needs. To help in the form of bilateral loans and non-members will participate in the euro area as Great Britain, Sweden and Denmark. Half of the funding intended for the banking sector, ie € 17.5 billion (440.2 billion CZK), provide Ireland itself.

Vojtech Kristen, kristen@mediafax.cz

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Agentura Moody´s snížila rating pěti irským bankám

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