KBRA affirms the long-term and short-term issuer ratings of Ireland. The Outlook on the long-term ratings has been revised to Positive from Stable.
Ratings Outlook
The Outlook reflects the economy’s strong growth performance, resilient underlying fundamentals, and continued improvement in the sovereign’s fiscal position. Public debt ratios are expected to decline further, while continued fiscal surpluses and contributions to the state’s long-term savings funds should support further growth in government financial assets and liquidity buffers. Risks remain around the concentration of corporation tax receipts and Ireland’s exposure to changes in global trade and US policy. However, strong market access, a favourable debt profile and a strengthening public-sector balance sheet leave the sovereign well positioned to absorb external shocks and support further improvement in credit metrics.
Key Credit Considerations
The ratings were affirmed because of the following key credit…
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