Economy sound, says agency

THE economy was praised yesterday by credit ratings agency Standard & Poor’s as it reaffirmed its highest ratings on the country’s debt.

In a report on the economy yesterday, S&P reaffirmed Ireland’s “AAA” long-term and “A-1+” short-term sovereign credit ratings.

The better the rating from agencies like S&P, the cheaper and easier it is for the Government to borrow on international markets.