Agency lowers rating of Anglo debt

Agency lowers rating of Anglo debt

A major agency has lowered its rating on Anglo Irish Bank debt today, as the Government prepares to reveal the final estimated cost of bailing it out.

Moody's has cut unguaranteed senior debt at the lender by three notches, and subordinated debt by six, but it says the likelihood of the Government not supporting the debt is very small.

It comes as speculation continues that the Government is poised to do a deal with bondholders to cut the cost of winding down Anglo.

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