Standard & Poor's rating agency slashed Ireland's credit rating by one notch to (A-) as the country struggles with debt issues, in addition the company said that the Euro-Zone (A) credit rating would be slashed by April as uncertainty over capital top-ups for Irish banks persist.

With this move, S&P joins Moody's Investors Services and Fitch Rating in slashing Ireland's credit rating as the country acquired an €85 billion bailout plan from the EU and IMF, but S&P remains the only rating agency that retains an (A) rating for Ireland among all three.

Moody's hold a Baa1 rating for Ireland, three levels above junk, with a negative outlook, meanwhile Fitch holds BBB+ rating for Ireland, with a stable outlook. S&P outlook for the Ireland was moved to negative as well.