Ireland's outlook upgraded from negative to stable

The ratings agency Standard and Poors has upgraded Ireland's outlook from negative to stable.

That's usually the pre-cursor to a ratings upgrade in the future.

Markets Correspondent with the Sunday Business Post John Ihle said that the upgrade may not happen in the near future - but today's decision is seen as a boost in confidence for Ireland.

"It does show that there is now more confidence now about the country's ability to manage its debt burden and to meet its repayment going into the future," he said.

"And it could also lower our yields further if the market takes notice."