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Thursday 23 March 2023 Dublin: 7°C

# Downgrade

All time
# end of the line
Here is the letter Enda Kenny sent to Alexis Tsipras last night
Greece is finally heading for a default on its IMF loans.
# Downgrade
Prison officers will have to travel hours with inmates if Portlaoise A&E closes
The closure will create additional risks and be more costly, said the POA.
# Protest
Reilly: It would be unsafe to close Navan's Emergency Department... right now
The health minister said the department would only close if it was there was capacity elsewhere in the system.
# Downgrade
Moody's downgrades Bank of Ireland's deposit ratings
The investment service said the results of the stress test that will be undertaken by the ECB next year are “difficult to anticipate”.
# Downgrade
Eurozone's new bailout fund loses AAA credit rating
The European Stability Mechanism has been downgraded by Moody’s, following a similar drop for France.
# Downgrade
Proposals to downgrade Waterford Regional Hospital to county status
Proposals outlined this week could see the hospital’s structure broken up and aligned with Cork University Hospital.
# Downgraded
Moody's downgrades 28 Spanish banks over debt concerns
Banks downgraded last night include one of the eurozone’s biggest – Banco Santander.
# Spain
Spanish borrowing costs hit record level
Moody’s downgraded Spanish debt to within one notch of ‘junk’ status yesterday.
# Cyprus
Moody's drives Cyprus towards junk status with two-notch downgrade
The credit ratings agency has said that it has placed Cyprus’ rating on review for further possible downgrade.
# Spain
Record unemployment, rating downgrade and now Spain is back in recession
Spanish banks are now discussing creating a private entity to assume control of their toxic assets though there would be no taxpayer involvement in such a creation.
# Recession
Bad day for Spain: Record unemployment AND a credit downgrade
Almost one quarter of the workforce is unemployed, according to the latest figures out today.
# Credit Ratings
Fitch downgrades UK outlook to negative
The nation has held onto its AAA rating but has been warned it could lose its top rating if cut-backs are eased.
# Downgrade
S&P downgrades Greece into 'selective default' territory
The ratings agency demonstrates it can read, by officially acknowledging that Greece’s bond-swap is a ‘selective default’.
# Downgrade
Interest rates plunge as Italy raises €6 billion in new auction
What downgrade? Italy flogs billions in 12-year bonds with interest rates falling dramatically on a similar bond last month.
# Credit Rating
Moody's downgrades six European countries - and warns of more to come
France and the UK were both warned that they could lose their coveted AAA credit rating.
# Downgraded
Two ratings agencies downgrade Spanish banks
Fitch cut the ratings on four of Spain’s financial institutions – while S&P downgraded 15.
# EFSF
EU bailout fund overcomes downgrade with successful bond auction
The EFSF sells six-month bills with an average interest rate of 0.2664 per cent – despite being downgraded yesterday.
# Bondwatch
Spain raises nearly €5bn in successful short-term bond auction
Spain sees the interest rate for 12-month bonds fall significantly, while Belgium has mixed results in an auction of its own.
# Downgrade
Bailout costs likely to rise after S&P downgrades EU fund
Standard & Poor’s downgrades the European Financial Stability Fund, meaning our future loans will probably cost us more.
# Bond Markets
Back with a bang: ECB bought €3.77 billion of bonds last week
After slowly winding down its programme of hoovering up eurozone debt, the ECB was called back into action in a big way.
# Moody's
Safe: Moody's says it will maintain France's AAA rating
It follows Standard & Poor’s downgrade of France and others on Friday.
# Markets
Markets dip over eurozone worries after S&P downgrades
The ratings agency said it doesn’t believe European leaders are doing enough to tackle the ongoing crisis.
# Eurozone
Standard & Poor's defends mass European downgrade
The US-based credit rating agency has defended its decision after a sharp European backlash yesterday against its move to downgrade nine EU countries.
# Eurozone
Rehn slams 'inconsistent' credit rating downgrade
The European Commissioner for Economic and Monetary affairs has strongly criticised yesterday’s decision by Standard & Poor’s, saying that member states had been taking “decisive action in all fronts” to stem the debt crisis.
# Downgrade
S&P runs riot in the eurozone: France loses AAA rating as Portugal turns to junk
A French downgrade is bad news for us, too – because Europe’s bailout fund is also likely to be downgraded by S&P.
# Daily Fix
The Daily Fix: Friday
In tonight’s fix: Downgrades for France – and difficulty for us? Plus: yet more rows over septic tanks, victory for workers at La Senza, and every presentation you’ve ever seen…
# Review 2011
Recessions, downgrades and Super Mario - 2011: the year in money
2011 may be remembered in future as the year we sorted out the financial crisis – or the year in which it grew beyond our control.
# Credit Ratings
Second ratings agency set to downgrade EU member states
Moody’s follows the lead of Standard & Poor’s, complaining about “the absence of measures to stabilise credit markets”.
# Downgrade
Three top French banks downgraded by Moody's
The ratings agency says the ongoing euro crisis means the eurozone is a “fragile operating environment for European banks” at the moment.
# Debt Crisis
Moody's downgrades Spain's credit rating
European leaders are feeling the pressure today as Spain becomes the latest country to experience a credit rating downgrade.
# Downgrade
UK and Portuguese banks downgraded by Moody’s
Twelve banks in the UK and nine in Portugal have been downgraded after Moody’s reassessed the financial institutions’ support environment.
# Italy
Italy's credit rating slashed by Standard and Poor's
The agency said a “weakening” economy and fragile government were putting the country at risk.
# Power Struggle
S&P boss steps down, weeks after unprecedented US downgrade
Deven Sharma, the president of Standard & Poor’s, will step down within a month after facing criticism for lowering the US’s rating.
# Fitch
Fitch: We're not going to remove the US's AAA rating
Fitch and Moody’s say they’ll be letting Standard & Poor’s go on a solo run – with two of the three agencies refusing to downgrade.
# Ratings Agency
How did ratings agencies become so powerful? Trains and recessions, that’s how
In the aftermath of the debt downgrade, people are wondering how S&P and the likes became so powerful. Here’s the answer.
# Insider Trading
US markets watchdog investigating alleged insider trading at S&P
The Securities and Exchange Commission is reportedly asking Standard & Poor’s to account for anyone who knew about the US downgrade.
# In the red
Dow disaster: 632-point drop is the 6th-worst in history
The Dow Jones ends its day deep in the red, as the S&P loses 6.6 per cent and the NASDAQ sheds nearly 7 per cent of its value.
# Markets
US markets continue nosedive as investors dump shares for bonds
The US bond market responds brilliantly to the S&P downgrade, but the world’s stock markets are the obvious victims.