Standard and Poor's upgrade Ireland's long-term sovereign credit rating to AAA

Press Release

The National Treasury Management Agency (NTMA) welcomes today's upgrade of Ireland's long-term sovereign credit rating to triple 'A' (AAA) by Standard and Poor's. The NTMA, stated that this rating is a recognition of the sound underpinnings of Ireland's impressive economic performance in recent years, the strength of the public finances and the improvement in the debt burden which is now the second lowest in the EU. It also stated that today's decision will further enhance the attractiveness for investors of Irish Government bonds in both the domestic and international bond markets.

Ireland now has triple A long-term ratings from Standard and Poor's, Moody's, Fitch and R & I (the major Japanese rating agency). It also has prime short-term ratings from the above agencies.

3 October 2001