S&P upgrades Irish outlook

(11 Feb 2013)

standard poors logo Thumbnail0It is reported in today`s Irish Independent that ratings agency Standard & Poor’s has raised its outlook for Ireland to stable from negative.

The change comes just days after the Government, led by Finance Minister Michael Noonan, secured a deal on the Anglo promissory note debt with the European Central Bank.

The move "reflects our expectation that the exchange of promissory notes for longer-term government bonds significantly reduces the Irish government's debt-servicing costs and refinancing risk, and supports medium-term fiscal consolidation,” S&P said in a statement.

Irish independent full report

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