Morningstar DBRS upgrades Ireland on its ability to repay long-term debts to AA [Video]

CREDIT RATING AGENCY Morningstar DBRS has upgraded Ireland to AA on its metric that gauges the ability of countries to meet their financial commitments and repay long-term debts.

Morningstar DBRS is the world’s fourth largest credit ratings agency and is one of only four such agencies to be recognised as an external credit assessment institution by the European Central Bank.

Its sovereign debt rating system goes from AAA to C, with further low and high levels available within each category expert for the top-of-the-chart AAA rating.

Ireland was previously rated AA (low) and was today upgraded to AA.

It’s Ireland’s first upgrade from Morningstar DBRS since January 2022.

A spokesperson for the Department of Finance said the upgrade “reflects an expectation that Ireland’s strong fiscal position will persist over the medium-term”.

The spokesperson added that the establishment of the two new long-term savings funds – the Future Ireland Fund and …