Ireland Credit Rating Cut Two Notches By S&P
Bloomberg link: Ireland Rating Cut Two Steps by S&P as `Barbarians’ Gather.
S&P cut Ireland’s long-term rating to A from AA- and the short-term grade to A-1 from A-1+, the statement said. The reduction leaves its long-term grade five steps above Greece, which has the highest junk, or high-risk, grade.
The country is in the process of being bailed out and they have an A rating on it?