Noonan hopeful of rating upgrade

Finance Minister Michael Noonan says he hopes Moody’s Investors Service will raise the nation’s credit rating from non-investment grade as the country exits its bailout programme and plans debt sales.

“We’re hopeful that Moody’s will have another look at us early in the New Year,” he told Bloomberg Television. “The mood from all the rating agencies is positive at present.”

Ireland is preparing to exit the €67.5bn aid programme it entered in 2010 after its financial system almost collapsed. Government bonds, which slumped as the nation took a bailout, have returned 11.5% this year, amid signs the economic outlook is improving.