DUBLIN (Reuters) - Credit agency Moody's dashed Irish hopes of an investment grade rating following a landmark 10-year bond issue, saying Cyprus' "unprecedented" bailout increased the risks associated with holding Irish debt. Moody's, the only agency that ranks Ireland's debt as 'junk', said on Thursday that, despite the country's "steady progress" in regaining market access, it was maintaining its Ba1 rating with a negative outlook due also to issues with the banking sector.

Global credit ratings agency Moody's on Friday upgraded the ratings of Brazilian JBS, the world's top beef processor, to Ba3 from B1, pointing to a stable outlook and the global strength of its operations. "The ratings outlook is stable," it said in a statement. "The upgrade reflects the significant improvement in JBS's credit metrics over the last few quarters, mainly as a result of its focus on an organic growth and deleveraging strategy, as well as good performance of its Brazilian beef operations," said Moody's vice-president Marianna Waltz.

LONDON (Reuters) - The European Union's markets watchdog has criticised the world's top three ratings agencies over a lack of transparency over how they evaluate banks and has demanded more robust internal reviews of their methods. The European Securities and Markets Authority (ESMA), which studied Moody's <MCO.N>, Fitch <LBCP.PA> and Standard & Poor's <MHP.N>, said there was inadequate disclosure of the in-house methodologies used to compile their ratings and how they keep these methods under review.