Disappointing some expectations, S&P Global Ratings — the new name for Standard & Poor’s — left its ratings unchanged for Ireland yesterday, citing the potential washback on the Irish economy should the UK decide to leave the EU in the referendum that takes place in less than three weeks.

Moritz Kraemer, the chief sovereign rating officer at S&P Global Ratings, has played down the risks facing Ireland if the UK were to vote in less than a month to exit the EU.