Government’s prudent economic and financial management validated by Fitch Ratings decision
- Fitch Ratings agency has today upgraded Ireland’s sovereign rating to A+ from A. This review was scheduled and the upgrade represents an improvement of one notch on the Fitch scale.
- Fitch has indicated that this upgrade reflects the improving health of the banking sector, the declining general government debt-to-GDP ratio and reducing debt servicing costs.
- Ireland has ‘A’ rating from all the major debt ratings agencies.
Commenting on the upgrade to A+ by Fitch of Ireland’s sovereign rating, Minister for Finance Paschal Donohoe T.D. said:
“I welcome this upgrade to Ireland's sovereign rating from Fitch. This positive development underscores our continuing economic and financial improvements.
This moves reflects the Government's prudent management of the economy in recent years. To build upon these hard-won gains, we will continue to implement sensible and sustainable policies.
The market reaction to our management of the public finances continues to be positive as evidenced by this upgrade. However, to sustain this progress we must guard against complacency and maintain our careful management of the public finances, including the focus on reducing our debt burden and continue with competitiveness-oriented policies”.