Summary Box: Moody’s cuts Ireland’s credit rating over rising government debt, bank woes

Summary Box: Irish debt woes drive Moody’s cut

THE MOVE: Moody’s cuts Ireland’s credit rating to “Aa2,” two notches below the top triple-A rating. Shares on the Irish Stock Exchange slump.

THE REASON: The ratings agency cites swelling national debt, the unpredictable cost of Ireland’s bank-bailout plans and weak growth prospects for the next three to five years.

THE SILVER LINING: Moody’s lifted its outlook on the risk of loaning money to Ireland to “stable” from “negative,” suggesting it will issue no more downgrades in coming months.

WHAT’S AHEAD: Ireland on Tuesday plans to auction euro1.5 billion ($1.95 billion) in 6-year and 10-year government bonds to help cover a shortfall in tax collections.