NTMA Welcomes S&P Upgrade of Ireland’s Sovereign Credit Rating

5 June 2015 – The National Treasury Management Agency (NTMA) welcomes today’s upgrade of Ireland’s long-term sovereign credit rating by Standard & Poor’s to A+ (from A) with a stable outlook.

Standard & Poor’s also affirmed Ireland’s position in the top short-term ratings category (A-1).

NTMA Director of Funding and Debt Management Frank O’Connor said: “Today’s upgrade is the third by S&P in the past 12 months and part of a steady upward trend in Ireland’s sovereign ratings. In addition to Ireland’s improved fiscal and economic performance, S&P notes the lowering of borrowing costs, including the early repayment of IMF loans. An A+ rating will have a positive impact on investor sentiment towards Ireland and broaden the universe of buyers for Irish Government bonds.”