| Ireland sovereign debt returns to "A" grade, as S&P ugrades credit rating to A- |
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| The National Treasury Management Agency welcomed today’s upgrade of Ireland’s sovereign credit rating by Standard & Poor’s to A- (from BBB+) with a positive outlook. |
NTMA Chief Executive John Corrigan said: “Today’s decision by S&P marks the first A rating of Ireland by any of the major credit rating agencies since the normalisation of Ireland’s return to the bond markets. It represents a further confirmation of the continuing positive assessment of Ireland by the major credit rating agencies. It also underpins the already strong investor sentiment towards Ireland and provides a very supportive backdrop for the remainder of the NTMA’s funding programme in 2014. It is gratifying to note that the bond market access achieved by Ireland and the progress made by NAMA are among the positive factors cited by S&P.”
For more on the background to this see: The GNP growth story behind Ireland's credit rating upgrade
For an interesting fix on credit rating agencies, and the view of an important, and welll informed group on their role in the global credit crisis see this article, published in 2008 by Finance Dublin. |
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