Updated Saturday, July 4, 2009 11:42 am TWN, AFP

Moody's cuts Aaa rating on Irish gov't bonds

LONDON -- International credit rating agency Moody's on Thursday downgraded the “Aaa” rating on Irish government bonds, citing a costly banking-sector bailout and stretched public finances. “Moody's Investors Service has today downgraded Ireland's government bond ratings to Aa1 from Aaa. The outlook is negative,” it said in a statement.

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