ISEQ down after downgrade by ratings agency

ISEQ down after downgrade by ratings agency

Share prices on the Irish stock market have dropped today after the ratings agency Moody's downgraded Ireland's credit rating.

The ISEQ Index was down 15.47 points to 2,840.05.

The agency is warning that the country faces a slow climb out of recession, as the cost of rescuing the banks continues to mount.

The one-notch downgrade comes a day before the scheduled sale of €1.5bn worth of debt.

Moody's also changed its outlook on the Irish economy from negative to stable.

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