Irish PM: Downgrade a 'Bit Excessive': Report


Irish Prime Minister Brian Cowen said Moody's downgrade of Ireland's credit rating by five notches was "disappointing" and a "bit excessive", state broadcaster RTE quoted him as saying on Friday.

"He said he was particularly disappointed about the agency's decision to adopt a negative rather than stable outlook," RTE said.

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Moody's cut Ireland's rating to Baa1 with a negative outlook from Aa2 and warned further downgrades could follow if Dublin was unable to stabilise its debt situation.

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