Banks off ratings agency danger list
Published 12/07/2011 | 05:00
RATINGS agency Standard & Poor's last night took Ireland's biggest banks off the danger list for an imminent downgrade, but stressed that their outlook was still "negative" and that July's €24bn recapitalisation was "only adequate".
The ratings agency giant also warned that the €70bn sell-off of Irish banking assets had only made "modest progress" and could be "delayed" so that the bulk of sales would not come until 2013.
Portugal's debt was downgraded to 'junk' by fellow agency Moody's last week.