Ratings agency boost: What’s good for the banks is good for all

Standard & Poor’s, one of the financial sector’s major credit ratings agencies, has raised its ratings on a number of Irish banks due to improved profitability within the industry.

The ratings agency has raised Bank of Ireland to investment grade, the first Irish bank to achieve such a rating since the financial crisis.

For Bank of Ireland, it is likely to mean a surge in its stock-market performance, with the return of institutional investors, many of whom are only permitted to invest in shares that have an investment rating.