Press Release|Sovereigns

KBRA Affirms AA/K1+ Ratings for the Republic of Ireland; Outlook Stable

27 Oct 2023   |   Dublin


KBRA Europe (KBRA) affirms the Republic of Ireland’s long-term issuer ratings of AA. KBRA also affirms the short-term issuer ratings of K1+. The Outlook on the long-term ratings is Stable.

The affirmation of the credit ratings reflects Ireland's high-income, advanced, competitive and institutionally robust economy, which is characterised by a prudent policy framework, favourable business environment, competitive corporate tax regime and euro area membership. KBRA also acknowledges the dramatic improvement in the sovereign’s fiscal position and debt metrics. Despite downward pressure on growth, stemming from the relatively high cost of living, lower external demand, geopolitical uncertainty and tighter credit conditions, the Irish economy continues to prosper and outperform expectations. New sovereign wealth funds offer the fiscal flexibility to respond to shock, initiate capital investment, or cope with looming expenditure pressures, such as climate change and pensions.

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