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Ireland rating down, CDS up, Jameson still happy, John (Corrigan) is not

|Includes:AGIBY, AIBYY, BEAM, BF.A, BF.B, DEO, iShares MSCI Ireland Capped ETF (EIRL), ILPMF, IRE, IRL, PDRDF

The Standard & Poor's credit rating agency downgraded Ireland's credit rating one notch to from AA to AA- overnight as fears mount about the impact on public finances for supporting/bailing out the Irish banks.

Disclosure: long all stocks