S&P cuts Ireland’s rating on cost of bank support

NEW YORK, Aug 24 (BestGrowthStock) -Standard & Poor’s on Tuesday
cut its ratings on Ireland and gave the country a negative
outlook, saying the cost of supporting the country’s ailing
financial sector will further weaken its financial
flexibility.

S&P cut Ireland’s long term rating one notch to AA-minus,
the fourth highest investment grade. A negative outlook
indicates another downgrade is more likely over the next
one-to-two years.

(Reporting by Karen Brettell)

S&P cuts Ireland’s rating on cost of bank support