(MENAFN) Moody's Investors Service stated that due to economic and financial risks in Ireland, the agency downgraded the nation's country ceiling rating, reported Xinhua News.
The agency said that it lowered Ireland's country ceiling rating by 6 notches from triple A to A3, as the country's economic weakness is still causing risks to local non-government issuers.
Moody's, which holds a credit rating of Ba1 for Ireland on notch into junk territory, added that structured finance transactions supported by Irish receivables might be reduced to a maximum rating of A3.
It is worth noting that the country ceiling means the highest rating one issuer inside one country can get from Moody's, so the highest rating one issuer in Ireland can get now is A3.
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