Treaty yes vote good for debt ratings, says Fitch

The passing of the fiscal stability treaty is good for Ireland’s debt ratings, Fitch Ratings says.

The ratings agency said it removes potential uncertainty about Ireland’s future funding.

“A no vote would have increased downward pressure on Ireland’s ‘BBB+’ rating because it would have stopped the country receiving European Stability Mechanism funds after the current EU/IMF programme finishes next year. The yes vote has removed this immediate concern,” Fitch said in a note issued by the company’s director of sovereigns Gergely Kiss.