Ireland set to secure Moody’s upgrade

Ireland looks set to get its long-awaited investment grade star of approval from ratings agency Moody’s which has stubbornly kept Ireland as a junk investment since 2011 despite the improvement in the country’s economy.

The ratings agency is set to deliver its verdict on Ireland next Friday, when it is expected that they will upgrade the Irish sovereign debt rating to AA3 meaning high quality and very low credit risk.

Moody’s analyst Kristin Lindow said that the success of the Irish bond auction earlier this week was a positive indicator when considering whether or not to upgrade Ireland’s debt rating, but she added that it has no direct relationship to the Moody’s rating.