Moody’s set to raise Irish rating

Ireland’s rating will probably be raised for the second time in less than six months by Moody’s Investors Service as the economy stabilises and concern that the eurozone may be under threat eases.

Moody’s will raise its ranking to Baa2 from Baa3 today, when the ratings company is scheduled to deliver its latest verdict on the country, according to six of nine analysts and economists surveyed by Bloomberg News. Three predict no change, the survey shows.

Moody’s is upgrading its view as employment grows, the government deficit narrows and the wider crisis which threatened the eurozone’s future passes. The ratings company restored Ireland’s investment-grade rating in January and last week raised Portugal’s rating.