Moody's downgrades Irish credit rating to junk status

Ireland’s credit status has been cut to junk status by credit ratings agency Moody’s on concern bondholders may be forced to take losses if the current IMF/EU bailout doesn’t work.

Ireland’s credit status has been cut to junk by credit ratings agency Moody’s on concern bondholders may be forced to take losses if the current IMF/EU bailout doesn’t work.

The move by Moody’s came despite EU finance ministers agreeing measures to ease pressure on struggling European countries.