DUBLIN Nov 4 Fitch on Wednesday cut Ireland's
sovereign rating to 'AA-' from 'AA+' citing the severity of the
economic and fiscal downturn, but said the outlook was stable
due to Dublin's aggressive measures to solve the problems.
"The agency notes the vigour of the government's fiscal
consolidation response to date, the expectation of further
aggressive budget tightening and the likely success of the
National Asset Management Agency (NAMA) in rehabilitating the
banking sector," it said. "All these factors have helped
stabilise the outlook for Ireland's creditworthiness."
(Reporting by Andras Gergely; Editing by Ron Askew)