Moody’s lowers ratings on five lenders’ debt issues

MOODY’S Investors Service lowered the ratings on Government-backed debt issues by five lenders, including Bank of Ireland, following its downgrade of the state to non-investment grade this week.

Moody’s also cut Government-backed debt of Allied Irish Banks, Anglo Irish Bank, EBS Building Society and Irish Life & Permanent to Ba1 from Baa3, it said.

The outlook on the debt is negative and follows a cut of the sovereign rating to the same grade on July 12. Ba1 is Moody’s highest non-investment rating.