InfoAnda - Moody's downgrades Ireland debt rating

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Nine-year old whiz-kid writes iPhone application | 5 February 2009
"Dirty Dozen" Member Dies | 13 April 2010
Obama faces skeptics in Congress over Afghan war | 12 September 2009

Analysis: New Microsoft mantra after Sinofsky - teamwork | | 16 November 2012

Forum Views () Forum Replies ()

Read more with google mobile : Moody's downgrades Ireland debt rating

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Photos Sitemap Moody's downgrades Ireland debt rating AFP - Tuesday, July 20 Send IM Story Print DUBLIN (AFP) - – Moody's slashed Ireland's credit rating on Monday, saying that the former Celtic Tiger has lost its roar because of radical state action to fight debt and rescue banks. The top rating agency said it has downgraded cut Ireland's rating by one notch to Aa2, blaming high debt levels, weak economic growth prospects and the huge cost of bailing out the troubled banking sector. "Moody's Investors Service has today downgraded Ireland's government bond ratings to Aa2 from Aa1," the group said in an official statement, but added that it had upgraded its outlook to stable from negative. The agency cited three reasons for the downgrade to Ireland's economy, which was the first eurozone member country to plunge into recession in the first half of 2008, and only just emerged in the first quarter of 2010. "The main drivers for the downgrade are... the government's gradual but significant loss of financial strength, as reflected by the substantial increase in the debt-to-GDP ratio and weakening debt affordability," it said. Another key factor was "Ireland's weakened growth prospects as a result of the severe downturn in the financial services and real estate sectors and an ongoing contraction in private sector credit". In addition, Moody's also blamed the "crystallization of contingent liabilities from the banking system" in the wake of costly state measures to stabilise and rebuild the shattered banking sector. Ireland has pumped enormous amounts of cash into crisis-hit banks and set up the National Assets Management Agency (NAMA), a state-run "bad bank" that is designed to soak up billions of euros of lenders' toxic assets. "Overall, the recapitalization measures announced to date could reach almost 25 billion euros -- and Moody's expects that Anglo Irish Bank may need further support," it added on Monday. "In addition, the government created NAMA, a special purpose-vehicle that is acquiring loans from participating banks at a discount in exchange for government-guaranteed securities. The agency added: "We believe that the uncertainty surrounding final losses would exert additional pressure on the government's financial strength." Ireland was hammered by the financial crisis after more than a decade of growth which it raised it rapidly to be among the richest nations in Europe in relative terms. Its economy shrank 7.6 percent in 2009, slashing taxation revenues. "Today's downgrade is primarily driven by the Irish government's gradual but significant loss of financial strength, as reflected by its deteriorating debt affordability," said Dietmar Hornung, Moody's lead analyst for Ireland. He added: "The country has suffered a dramatic contraction in GDP since 2008, causing a sharp decline in tax revenue. "The general government debt-to-GDP ratio rose from 25 percent before the crisis to 64 percent by the end of 2009, and is continuing to grow." The economy has also been plagued by a domestic property market meltdown and soaring unemployment. But Ireland escaped the downturn earlier this year, with gross domestic product (GDP) soaring 2.7 percent in the three months to March, compared with the final quarter of 2009, as exports soared on the back of a weak euro. Monday's downgrade comes one week after the International Monetary Fund forecast that the Irish economy will grow by 2.3 percent in 2011 after escaping a painful recession earlier this year. NCB economist Bernard McAlinden welcomed the outlook upgrade as evidence that the Irish economy was on the mend. "A positive to be taken from the latest opinion on Ireland, is the recognition by Moody's that the economy has begun to turn the corner," he said. "Moody's has changed the outlook on the ratings of the government of Ireland to stable from negative as the rating agency now views the upside and downside risks as being evenly balanced at the current rating level." Recommend Send IM Story Print News Search Top Stories Boeing, Airbus take orders worth 9 bln pounds Moody's downgrades Ireland debt rating Philips reports six-fold rise in profits Philips report big profit on consumer electronics Matt Bettencourt captures PGA's Reno Open More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Paris Hilton caught with cannabis in handbag World pays tribute to Mandela at 92 Boeing's Dreamliner completes first flight outside US Boeing, Airbus take orders worth 9 bln pounds Emirates Airline to order over 30 Boeing 777s: report More Most Viewed » Reclusive top mathematician turns down prize, again Paris Hilton caught with cannabis in handbag Germany's 'Octopus oracle' keeps perfect record Who's right - the dolphin or the octopus? 3 Russian spy suspects due in US court More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

Other News on Monday, 19 July 2010
Clinton asks Pakistan to do more to combat terrorism
'Strong blow' for Merkel as another ally jumps ship
US-TECH Summary
France rioters arrested for shooting: police
World AIDS conference opens to demo, call for funds
Lebanon's PM Hariri in Syria, focus on economy
Drug hitmen kill 17 at party in Mexico |
Paywall hits The Times online readership: report
Emirates Airline to order over 30 Boeing 777s: report
BP extends tests on oil well structure as cap holds
Iraq suicide bomber kills 45 in strike on anti-Qaeda militia
Mideast leaders queue for talks with Egypt's Mubarak
NATO says soldier killed in Afghan blast
Iranian prosecutor urges Islamic dress checks
Lebanon's PM Hariri in Syria, focus on economy |
Afghan govt wants donors to support its priorities
Two strong quakes strike Papua New Guinea
Fifteen wounded in suicide attack in Pakistan
S.Korea FM dismisses N.Korean overtures
US-ENTERTAINMENT Summary
"Salt" adds flavor to summer movie menu
"Inception" leads box office, "Apprentice" flops
Critically acclaimed 'Inception' awakes box office gold
Merkel completes Asian tour in Kazakhstan
Two million join car-less German autobahn fair: organisers
RIM says Apple claims about BlackBerry unacceptable |
Zsa Zsa Gabor breaks hip in fall, to have surgery |
Salt adds flavor to summer movie menu |
Boeing, Airbus await orders at Farnborough show
States failing to control transport of arms: Amnesty
China on track to aim 2,000 missiles at Taiwan: report |
Boeing's Dreamliner completes first flight outside US
E! co-founder launches celebrity website
Drug hitmen kill 17 at party in Mexico |
Funding crisis darkens mood at AIDS forum
LG aims to up 3D notebook shipments by 30 percent
49 dead as trains collide in India |
Apple goes low-tech to solve iPhone woes
China boomtown migrants sorely underpaid |
Motorola nears unit sale to Nokia Siemens: source
UK to raid dormant bank accounts to fund charity |
Taiwan eyes more US weapons: report
Afghan and NATO forces ready security for Kabul Conference |
US-TECH Summary
Australian PM extends lead in election race |
'20 missing' in China landslide as rains continue
Clinton woos Pakistan with aid package
US carrier to visit S.Korea ahead of joint exercise
Hollywood stars lend a hand for diverse charities
Minimum and maximum temperatures in Celsius
LG aims to up 3D notebook shipments by 30 percent
Gong, Lau to star in 'What Women Want' remake
Russian pianist back in Thailand for rape hearing
Motorola nears unit sale to Nokia Siemens: source
N.Korea starts border dam water discharge: S.Korea
20 missing in China landslide: report
Clinton announces major aid projects for Pakistan
Alicia Keys splits with manager
Filipino movie gatecrasher searches for salvation
Oscar speculation underway for "Inception"
Australian PM extends lead in election race
Belgrade: Serb capital the new place to party
LG aims to up 3D notebook shipments by 30 percent |
Clifton Collins joins NBC's "The Event"
Hollywood stars lend a hand for diverse charities
Motorola nears unit sale to Nokia Siemens: source |
Illegal World Cup betting surged in Asia despite risks
E! co-founder launches celebrity website |
Voodoo rite draws Haitian faithful praying for comfort
Hamas bans water pipes for Gaza women
Zsa Zsa Gabor to have surgery after breaking hip in fall
Seoul shares slip; falls limited by China gains
China's Zijin 'ignored warnings' over mine waste water
China's Bright Dairy buys Synlait stake
Beijing home prices rise to '22 times income levels'
PAKISTAN
IMF to boost lending resources: report
Korea Hot Stocks
S.Korea bonds rise on U.S. data;10-yr auction eyed
Seoul shares fall 1 pct after weak U.S. data
NZ services sector growth picks up in June
Oscar speculation underway for Inception |
Alicia Keys splits with manager |
Clifton Collins joins NBC's The Event |
Hollywood stars lend a hand for diverse charities |
Darfur rebels and U.N. to sign deal to protect children
Philips reports six-fold rise in profits
China seals oil port after spill |
Road bombs kill 6 Afghan policemen, 2 US troops
Philips report big profit on consumer electronics
Baidu promotes fake drug sites: Chinese TV station
Moody's downgrades Ireland debt rating
Roadside bomb kills 6 Afghan policemen in south
Afghanistan plans ambitious vision for the future |
US service member killed in Afghanistan
Samsung says no significant smartphone signal complaints
Attack on British security firm in Iraq kills 4 |
Matt Bettencourt captures PGA's Reno Open
Iran calls for world body free of big power control |
Merkel coalition puts brave face on exodus of leaders |
Afghan govt wants donors to support its priorities
L'Oreal heiress to be questioned in French scandal |
US-TECH Summary
Samsung says no significant smartphone signal complaints
U.N. chief hopes for wider freedoms in Cuba |
German court gives al Qaeda helper 6-year jail term |
At least 61 dead in India train crash
Clinton believes Osama bin Laden still in Pakistan
Clinton offers aid and seeks stronger Pakistan ties
Free vote needed in Myanmar: Asian security forum
"Deep concern" over ship sinking: Asian forum
China seals oil port after spill as PetroChina cuts runs
Nokia Siemens buys Motorola network ops for $1.2 billion |
China to build new nuclear power plant: state media
Jobs' offer of free iPhone cases eases Apple PR woes: analysts |
Curry houses in a sweat over new immigration rules
Australian PM leaps ahead in pre-election poll
Apple expands iPad sales to 9 more countries |
Nuance plans voice-activated iPhone apps for UK |
Teenage singer Charice gets Botox for 'Glee' debut
Baidu promotes fake drug sites: Chinese TV station |
Samsung says no significant smartphone signal complaints |
Pakistani stocks end up; rupee flat; o/n rates up
Filipino singer undergoes cosmetic fix for `Glee'
Shanghai Volkswagen boss dies in car accident
Oil prices make subdued start to week
RLPC-MBK kicks off sale of CNS, Gala TV
GM breaks ground on China hi-tech car lab
Inception leads box office, Apprentice flops |
Wesley Snipes loses appeal in tax case |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01