S&P Global Ratings has raised Ireland's debt rating from AA to AA+, highlighting the strength of its economy and public finances. This is the second-highest possible level on its rating scale.
This decision is based in particular on sustained growth in recent years, averaging close to 5%. Despite a more uncertain international context, the agency believes that the Irish economy remains dynamic and resilient.
A high-performing but vulnerable economy
S&P, however, warns of the country's heavy reliance on foreign trade and multinational corporations, which account for a significant portion of tax revenue. The Irish economy, being very open, therefore remains vulnerable to international shocks.
The agency nevertheless emphasizes that fiscal space, economic diversification, and membership in the eurozone are assets for coping with a potential global slowdown. The outlook associated with this new rating remains stable.
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