May 16 (Reuters) -. Moody’s Investors Service announced Friday raise the long-term rating of Ireland by two notches to Baa3 from Baa1, with a stable perspective
Note to short term is also raised, P-3 P-2.
Moody’s had returned the note to the investment category in Ireland in January, a big plus for the Irish State had out its program of international bailout last month.
At the height of the financial crisis in July 2011, Moody’s lowered the rating of Ireland to Ba1.
L Agency highlights the “significantly better the trajectory of the debt of Ireland in the medium term perspective, given the accelerating growth momentum in recent months.”
“Growth faster support the ongoing fiscal consolidation and debt puts on a decidedly downward trend path, “she says.
The recovery of the property market in Ireland also contributes to reduce substantially liabilities of public finances, Moody’s added.
Finally, compared to other sovereign ratings of Baa category in the eurozone, the credit profile of Ireland is recovering faster from the crisis debt in the region still observe the rating agency.
The stable outlook, says Moody’s, reflects a perfect balance between upside risks and downside risks.
Standard & Poor’s and Fitch notes Ireland three notches above speculative status to BBB +. S & P raised its outlook to positive in 2013, while Fitch has a stable outlook
(Wilfrid Exbrayat for the French service)
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