Moody’s upgrades Ireland’s status

In a major boost for the Government’s efforts to make a sustained exit from the EU/IMF bailout programme, the credit ratings agency Moody’s has upgraded Ireland to investment grade status.

Moody’s was the only one of the three major credit ratings agencies to have Ireland at sub-investment grade.

Last night it upgraded the sovereign rating to Baa3/P-3 from Ba1/NP. The outlook on the ratings is now positive.