NTMA Welcomes DBRS Upgrade of Ireland’s Sovereign Credit Rating to A(high)
11 March 2016 – The National Treasury Management Agency (NTMA) welcomes today’s upgrade by DBRS of Ireland’s sovereign credit rating to A (high) with a stable outlook. The ratings agency also upgraded the short-term foreign and local currency issuer ratings to R-1 (middle).
In making their decision to upgrade, DBRS cited the materially improved outlook for Ireland’s debt sustainability on foot of the strong economic recovery and progress made in reducing the fiscal deficit.
Commenting on the report, NTMA Director of Funding and Debt Management, Frank O’Connor said “It’s pleasing to see the improvements in Ireland’s debt dynamics reflected in this upgrade by DBRS.”