Irish debt ranked with Libya and S Africa

CREDIT rating agency Fitch has slashed Ireland’s debt profile by three notches.

Fitch has downgraded Ireland’s debt rating by three levels from ‘A+’ to ‘BBB+’. This puts Ireland at the same level as countries such as Libya and South Africa.

The ranking is still two steps above Greece, which was the first EU country to accept a rescue plan from the EU and IMF.