Fitch upgrades Ireland's credit rating to positive

Credit ratings agency Fitch has revised its outlook for Ireland to positive from stable.

The rating has been adjusted to reflect a 'strengthening recovery in domestic demand' and 'favourable financing conditions' in the Irish economy.

Fitch also reports its increasing confidence as a result of a decrease in Ireland's budget deficit to below 3% of GDP in 2015.

The ratings agency has affirmed its long-term rating for Ireland at A minus.