13th July 2011
Moody's said its decision was based on the possibility Ireland would need a second bail-out before it can return to capital markets.
The BBC News website reported that Ireland's support programme backed by the European Union and International Monetary Fund support programme is due to end in late 2013.
In its latest downgrade, Moody's cut Ireland's ratings by one notch to Ba1 from Baa3.
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