According to a comprehensive report from Worldway Immigration: August 18, credit rating agency Fitch upgraded Ireland's sovereign credit rating to “A-” on Friday, becoming the second of the three major rating agencies to upgrade Ireland to the A category since the financial crisis.
Fitch upgraded Ireland's rating from “BBB+” to “A-” with a stable outlook, citing the country's continued fiscal consolidation over the past year.
Fitch stated, “Since exiting its bailout program at the end of 2013, the Irish government has continued its multi-year fiscal consolidation and remains in compliance with domestic and Eurozone fiscal discipline.”
The rating agency noted that it expects Ireland to continue fiscal consolidation in 2015, and that the country may exit the excessive deficit procedure next year.
Prior to Fitch's upgrade of Ireland, Standard & Poor's upgraded Ireland's rating from “BBB+” to “A-” in June. Moody's currently maintains a lower rating of “Baa1” for Ireland.
Fitch also raised Ireland's country ceiling from “AA+” to “AAA”.
Worldway Immigration Editor
