March 28, 2013 / 3:00 AM / 4 years ago

Moody's affirms Ireland's Ba1/NP ratings and negative outlook

March 28 (Reuters) - Moody's Investors Service on Thursday affirmed the Republic of Ireland's Ba1/Not Prime government bond ratings and kept them on a negative outlook, citing vulnerability in the euro area following the recent bailout of Cyprus.

"The move has significantly heightened fears surrounding the safety of bank deposits in other European systems," the ratings agency said.

Moody's also said the negative outlook reflected the continued poor asset quality of the Irish banking system.

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