World Economy

Ireland Credit Rating Up

Ireland Credit Rating UpIreland Credit Rating Up

Ratings agency Standard and Poor’s has raised Ireland’s credit rating to A, citing the country’s improved economic growth forecast and its repayment of debt. The move to A from A- was the second time in six months that the ratings agency has upgraded Ireland, which was stripped of its maximum AAA rating amid the financial crisis in 2009 and a subsequent EU-IMF bailout, Business Spectator reported. Now the fastest growing in the eurozone, Ireland’s economy is forecast to grow almost five percent this year, a significant rebound that contrasts with sluggish growth in much of the bloc.