Moody's downgrades more Irish banks' to junk rating

 Moody's downgrades more Irish banks' to junk rating: "Credit ratings agency Moody's has cut its rating of four Irish banks to junk status citing concerns over new funding which was due at the end of February.

The government says it will not make extra funds available before the general election on 25 February.

Opposition parties, who may form the next government, have expressed opposition to further bank aid.

Bank of Ireland, Allied Irish Banks, EBS Building Society and Irish Life & Permanent were all downgraded.

Anglo Irish Bank and Irish Nationwide, which have already been given junk status, were cut further.

Moody's Investors Service is one of the 'big three' credit ratings agencies, along with Standard & Poors and Fitch Ratings."