JAKARTA: Fitch Ratings, a global rating agency, downgrades the rating of Ireland to BBB+ with stable outlook.In its press release at the website, the agency said that Ireland's sovereign credit profile is no longer consistent with a high investment grade rating. Fitch considered the scale and pace of the deterioration of public finances, continuing contingent fiscal and macro-financial risks emanating from the banking sector, combined with the highly uncertain economic outlook and loss of market access, as factors to the rating revision. (NOM)
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