Ratings agency Fitch has upgraded ESB’s senior unsecured rating from BBB+ to A- following a similar upgrade of Ireland’s credit ratings last week.

Standard & Poor's is downgrading Spain's credit rating two notches to the agency's lowest investment-grade level.

ECONOMISTS have cut their forecasts for Ireland’s mid-term growth, a Reuters poll showed yesterday, underlining the challenge facing the government as it tries to cut its debt mountain.

RATING agency Standard & Poor’s yesterday said the country’s two main banks, AIB and Bank of Ireland, have made progress on the financial restructuring in recent months.

A DISMAL performance from AIB, which had its recapitalisation programme approved, failed to push Irish stocks into negative territory yesterday.