S&P reaffirms Ireland's credit ratings

Ireland's AAA long-term credit ratings and A1+ short-term ratings have been reaffirmed by the Standard & Poor's credit rating…

Ireland's AAA long-term credit ratings and A1+ short-term ratings have been reaffirmed by the Standard & Poor's credit rating agency.

The agency has also suggested the outlook on the long-term ratings is stable.

The State's Standard & Poor's credit rating was first upgraded to AAA during 2001.

S&P's sovereign ratings credit analyst David Cooling said the affirmation "reflects the government's considerable budget flexibility; a modest public debt burden; and Ireland's resilient, modern, highly diversified, and export-orientated economy".

Conor Pope

Conor Pope

Conor Pope is Consumer Affairs Correspondent, Pricewatch Editor