Ratings agency S&P upgrades Irish outlook to stable from negative
RATINGS agency Standard & Poor’s has raised its outlook for Ireland to stable from negative.
The move "reflects our expectation that the exchange of promissory notes for longer-term government bonds significantly reduces the Irish government's debt-servicing costs and refinancing risk, and supports medium-term fiscal consolidation,” S&P said in a statement.
It currently rates Ireland BBB- plus.
Moody's rates Ireland Ba1 with a negative outlook, below investment grade, while Fitch rates us BBB-plus with a stable outlook.