News Headline Summary

Fitch affirms Ireland at BBB+; Outlook to stable from negative

Fitch says:
- The affirmation and revision of the outlook reflects Ireland's continued progress with its fiscal consolidation, external adjustment and economic recovery, as well as the sovereign's improving financing options.

Update details:

- Earlier to Moody's said Ireland's Ba1 rating reflects significant deterioration in government's financial strength and expects Ireland debt/GDP to peak at around 120% in 2013-14.

Reaction details:

- No reaction was seen across asset classes following this outlook change as it was largely expected due to Ireland progressing well under their bailout and looking to return to capital markets next year.

Print 17:19, 14 Nov 2012 - Rating Agency comments - Source: Newswires