Irish PM: Downgrade a 'Bit Excessive': Report

Reuters

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.

Continue Reading Below

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.

What do you think?

Click the button below to comment on this article.