CDS spreads widen on Ireland

Five-year senior credit default swap (CDS) spreads referencing Ireland moved out 21 basis points to 348.5bp by 12:15pm London time today, according to data from credit information specialist CMA Datavision.

But there was varied news on two domestic banks, which suffered ratings downgrades after receiving government capital injections. Bank of Ireland - downgraded by Standard & Poor's to A from A+ after getting a €3.5bn capital injection in core tier 1 capital by the Irish government on Wednesday

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