Moody's cuts six Irish banks

Moody's Investors Service said it downgraded the unguaranteed senior debt ratings of six Irish banks and kept them under review for further possible downgrade.

The deposit ratings of these banks also have been placed under review for downgrade.

The actions follow recent government statements that call into question the government's willingness to provide additional support to the banks beyond that which has already been provided, Moody's said.

The downgrades also reflect the increasing risk of some type of burden-sharing with senior creditors, the agency said.

Allied Irish Banks' long-term senior debt rating was downgraded to Ba2 from Baa3 and placed on downgrade review, along with its Baa3/prime-3 bank deposit ratings.

Anglo Irish Bank's long-term senior debt rating was downgraded to Caa1 from Ba3 and placed on downgrade review, along with its Baa3/prime-3 bank deposit ratings.

Bank of Ireland's senior debt ratings were downgraded to Ba1/not-prime from Baa2/prime-2 and placed on downgrade review, along with its Baa2/prime-2 bank deposit ratings.

EBS Building Society's senior debt ratings were downgraded to Ba2/not-prime from Baa3/prime-3 and placed on downgrade review, along with its Baa3/prime-3 bank deposit ratings.

Irish Life & Permanent's senior debt ratings were downgraded to Ba2/not-prime from Baa3/prime-3 and placed on downgrade review, along with its Baa3/prime-3 bank deposit ratings.

Irish Nationwide Building Society's long-term senior debt ratings were downgraded to Caa1 from Ba3 and placed on downgrade review, along with its Baa3/prime-3 bank deposit ratings.

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