reuters.com - 22 days ago
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LONDON, Nov 4 (Reuters) - The euro trimmed gains against the dollar and the yen while the spread between Irish and euro zone government bond yields widened on Wednesday after ratings agency Fitch cut its sovereign rating of Ireland. Fitch downgraded Ireland's long-term rating to 'AA- ' from ...
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NAMA, SPVs and other Irish magic
FT Alphaville —
Given that Fitch has just downgraded Ireland’s sovereign rating from AA+ to AA-, we thought you might be interested in a bit of Irish analysis. The below is an FT Alphaville round-up of the latest developments regarding Ireland’s bad banks plan — the so-called National Asset Management Agency, or Nama. Under the terms of the plan, announced in September, Ireland will pay €54bn to take over bank debt with a book value of €77bn. The initiative is intended primarily to free the banks of their toxic asset burden and encourage lending to small businesses, according to finance ...
Trouble looms in Ireland after debt cut two notches and deficits soar
naked capitalism —
... Fitch, the credit rating agency, has just downgraded the sovereign debt ratings for the Republic of Ireland from AA+ to AA-. That is two notches and is proof-positive that the ratings agencies are worried about the hole in Dublin’s finances. ...
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