S&P upgrades outlook to positive

The credit ratings agency Standard & Poor’s has upgraded its outlook for Ireland from stable to positive, while retaining the BBB rating.

This increases the likelihood of Ireland’s rating getting an upgrade over the short-to-medium term.

Another of the big credit ratings agencies, Moody’s, declined to say whether it plans to review its rating of the Irish economy following the S&P move. It is the only one of the big three ratings agencies to have Ireland at sub-investment grade.