Fitch upgrades Ireland’s credit rating on recovery

Ratings agency Fitch has upgraded Ireland’s long-term foreign and local currency issuer default credit ratings to an A- and has said the country’s financial outlook is stable.

The agency said it regards the country’s solvency as stable and has also upgraded Ireland’s senior unsecured foreign and local currency bonds to A- from BBB+.

Fitch said the government had continued its multi-year fiscal consolidation programme following the exit from the Troika programme at the end of 2013 and remains compliant with domestic and eurozone fiscal rules.