Fitch signals Irish credit rating safe despite UK exit

Fitch Ratings yesterday signalled it would not downgrade Ireland’s credit rating despite the huge market turmoil and warnings of slower growth here after the UK voted to quit the EU.

The ratings firm said the vote raised both economic and political risks, including in the North, but that the Republic’s debt rating would not be affected for the time being.

Fitch and rival ratings firm S&P Global have in recent days downgraded the UK’s sovereign rating in the wake of the Brexit vote, while Moody’s has issued a negative outlook on the UK.