Moody's has downgraded Irish banks to junk status in an escalation of euro debt concerns.
The ratings agency downgraded the long term deposit ratings of AIB, EBS and Irish Life & Permanent two notches to Ba2, reports the BBC. Bank of Ireland was downgraded to Ba1, one notch above its rivals. The move follows last week's downgrade by Moody's of the country's sovereign debt rating.
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