Credit rating agency Moody's has divided its top-ranked countries into three categories, putting Ireland in the third grade.
Moody's stresses that this does not amount to a downgrade. The agency put Ireland's AAA rating on what it calls 'negative outlook' earlier this year, meaning that it is looking at downgrading the country's debt rating.
Moody's puts Germany in the first group, while the UK and US are in the second. Its lists Ireland as 'vulnerable', saying its future credit rating will depend on its ability to 'rapidly regenerate' its economy.
The agency said it categorised the AAA countries because of recent large-scale interventions by Government to support banks and other businesses.
