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Dublin: 16 °C Sunday 19 May, 2013

Irish semi-states moved from Standard and Poor’s ‘watch’ list

Bord Gais, the DAA and the ESB are currently rated ‘negative’ by S&P.

Image: Niall Carson/PA Archive

THREE OF IRELAND’S semi-state companies have been removed from Standard & Poor’s ‘CreditWatch’ list.

The ratings agency had put Bord Gais Éireann, the Dublin Airport Authority and the ESB on its list “with negative implications” on 8 December after it put 15 eurozone members on negative watch.

S&P’s rating for each the three companies currently stands at ‘negative’.

The agency also announced it was revising the rating of ESB-owned Northern Ireland Electricity to ‘negative’.

Standard and Poor’s downgraded nine eurozone countries last week, leaving Germany as the only member of the single currency which still has its AAA status. The ratings agency said that European leaders haven’t been doing enough to tackle the ongoing debt crisis.

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Comments (19 Comments)

  • Oh aren’t some of these on the list to be privatised? How convenient that they are not on the credit watch list anymore!

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  • Does that mean these state assets can bought much cheaper now?I thought it was only bonds and banks that these unelected corrupt B#stards can downgrade?
    The same time troika is spying about Dublin talking about fire sale of state assets sounds crooked to me.

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    • Oops ” can *be* bought much cheaper now? ” eating breakfast and typing is no good:)

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    • Is that what this is for Eugene? So our state assets can be privatised on the cheap?

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    • @ Reada Quinn
      Well it puts the buyer(s) of these state assets in a much stronger bargaining position using S&P mumbo jumbo BS to try and get a better price.

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    • And more and more the conspiracy theorists re the world being taken over by corporations seem like the only truth in town. Wtf?

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    • Neil 18/01/12 #

      Still banging the drum for communism on this little website Reada?

      Guess what, it doesn´t work.

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    • @ Reada Quinn
      I wont really call them conspiracy theorists anymore,Realist who be the best name now.Years ago I would laugh at people who say the banks run the world but not now,this is just one trader in this link telling it the way things really work.
      http://www.youtube.com/watch?v=aC19fEqR5bA

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    • God no Neil. Who needs socialism or communism when dictatorship can actually be voted in democratically. Sure it’s feicing great.

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    • Watched it Eugene. Said it on this site when I joined and got laughed off the stage. They bet you’ll win. They bet you’ll loose. Either way they win. Whether you win or lose is irrelevant. You win – great you’ll invest again and they can ride on your back. You lose – grand, you’re just a number anyway.

      What has to be remembered though is the fact that most of this money is illusionary – it’s just figures on a computer screen.

      There you are – now I’m really feiced! Call the men in the white coats for me, why doncha??? :-)

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    • @ Reada
      Your always going to get people laughing at you cut the bullshit and say it for what it is but people’s attitudes will change with in the coming years when the screw is tighten on us until its unbearable.
      “They bet you’ll win. They bet you’ll loose. Either way they win”
      They always win because they made this gambling game up and make the rules while they go along to suit their interests.
      Can you please call the white suits for me too :) as I am going insane with everyone hanging onto every last word the government has being saying since taking office.
      Reform my arse.

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  • Very confusing information in this article. For the lay man, have their ratings improved or worsened?

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    • They’ve actually improved but a very valid point.

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    • Paul. That depends on whether you’re a seller or a buyer. And on whether you believe Noonan when he sells at bargain basement prices. I don’t believe a word from them. And I don’t think any government has the right to sell what belongs to the Irish citizens.

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    • Thanks Tom. Réada, not really helping the situation, you’ve just confused matters more with your diatribe…

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    • No worries Paul. I’m a financial advisor so I have the pleasure of reading these reports on a daily basis. Many seem to be as ambiguous as possible. :)

      Reada, actually when we vote for members of Dail Eireann, we are actually investing authority in these people to act on our behalf and in our interest. While you obviously dispute that the sale might not be in our interest (and that is indeed debateable, depending on price, long term prospects etc) you can hardly dispute that the democratically elected government has the authority to do so. If you disagree with this, then I strongly suggest that you run for the Dail based on a policy of removing authority from the Dail and government to make decisions.

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    • Diatribe? I’m shocked it wasn’t called vitriol!!! What a scathing attack indeed. Emmm ok! [Ever more puzzled face]

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  • Same rating agencies that contributed to the worldwide credit crisis thru their AAA rating of the sub prime schenanigans. Sale of state assets would be criminal. This makes my blood boil. We need a rising against the financial services and banking sectors.

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    • Gas thing is William we don’t need a rising. What we’re getting instead is a falling. A crumbling. Another bubble about to burst. Watch as slave (governments) turn on their masters (Markets) and laugh. Power cannot be owned by a minority. It’s ours.

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