NTMA welcomes Fitch’s upgrade of Ireland’s sovereign debt rating to AA

  • Fitch upgrade to AA from AA- follows outlook change to positive in July 2023
  • AA is highest rating with Fitch since 2009

31 May 2024 - The National Treasury Management Agency (NTMA) welcomes Fitch’s upgrade of Ireland's long-term sovereign credit rating to AA with a stable outlook.

This rating upgrade, from AA-, is the first upgrade from Fitch since January 2022 and puts Ireland at its highest rating with Fitch since 2009.

Fitch also affirmed Ireland’s short-term rating at the highest level of F1+.

In making its decision to upgrade, Fitch cited a number of factors as key rating drivers. These include budgetary surpluses, the steady decline of public debt as well as the announcement of the new long-term saving funds – the Future Ireland Fund and Infrastructure, Climate and Nature Fund.

Dave McEvoy, Director of Funding and Debt Management at the NTMA, said:

“This upgrade from AA- to AA is another positive development for Ireland. It is the third upgrade from a major ratings agency in just over a year, following those from Moody’s in April 2023, and Standard & Poor’s the following month.

The AA rating is Ireland’s highest with Fitch since 2009.

Today’s upgrade is underpinned by several key drivers including Ireland’s improved debt position, pre-funded cash balances, long average maturity and low refinancing needs”.

Latest News
16 May 2024

NTMA Institutional Investor Presentation, May 2024

Read More
9 May 2024

Ireland sells €1 billion of bonds maturing in 2034 and 2041 by auction

Read More
7 May 2024

NTMA to hold scheduled bond auction on 9 May 2024

Read More
2 April 2024

NTMA Auction Schedule for Quarter 2, 2024

Read More
21 March 2024

Ireland sells €1 billion of bonds maturing in 2034 and 2043 by auction

Read More
19 March 2024

NTMA to hold scheduled bond auction on 21 March 2024

Read More