IRELAND: Irelands Credit Rating Upgraded by Moodys to A2

Tuesday September 19 2017

Ratings agency Moody’s has upgraded Irelands long-term issuer rating from A3 to A2.

According to Moody’s the Irish economy continues to grow at a faster-than-expected pace, meaning that its economic outlook can be regarded as positive.

While the implications of trading post Brexit remains a risk to growth, Moody’s is confident that the Irish Economy has developed a degree of resilience which allows it to cope with such developments.

Moody’s has stated the cause for ratings upgrades is largely due to the reduction in public debt which has been brought about by prudent policy framework that will yield further growth.

However, Moody’s accepts in its forecast that such growth will be at a slower pace than in the past two years due to the government shifting its focus to raising public investment in infrastructure and housing.

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