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Statement by NTMA on S&P Upgrade of Ireland’s Sovereign Credit Rating

6 June 2014 – The National Treasury Management Agency welcomes 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.”