Ireland’s credit rating was lowered two notches by Standard & Poor’s, as the country prepares to offer a four-year budget aimed at slashing the deficit.
“The Irish government looks set to borrow over and above our previous projections to fund further bank capital injections into Ireland’s troubled banking system,” S&P said, according to Bloomberg News.
S&P cut the country’s long-term…
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Ireland’s Credit Rating Cut by Standard & Poor’s originally appeared on DailyFinance on Wed, 24 Nov 2010 06:41:00.