Friday, December 17, 2010

... and in Other News, Moodys Picks the Washington Redskins to Win Super Bowl XVII

Talk about being ahead of the game! Nobody can beat Moodys!
LONDON—Moody's Investors Service Inc. downgraded Ireland's debt to Baa1 from Aa2 Friday, warning the government's financial strength could deteriorate further if economic growth were to miss its projections.

The five-notch downgrade was made as "Ireland's sovereign creditworthiness has suffered from the repeated crystallization of bank-related contingent liabilities on the government's balance sheet," said Dietmar Hornung, vice president, senior credit officer at Moody's.
Ireland has a debt servicing problem? You don't say! Who could have seen that coming?

Another successful prediction for Moodys!

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