Rating agency says ability to finance debt deteriorating

MOODY’S rating agency said its Aa1 rating it put on Government bonds in July has moved to “negative” in the meantime.

That shift reflects a further, gradual deterioration in both its debt affordability and its ability to finance those borrowings in the years ahead.

“Ireland’s ability to reverse negative debt dynamics in a non-supportive global environment will also be tested,” it warned in its annual report.