S&P upgrades Ireland's rating to 'A-' from 'BBB+'

June 6 Fri Jun 6, 2014 12:20pm EDT

June 6 (Reuters) - Standard & Poor's Ratings Services upgraded its rating on Ireland's long-term foreign and local currency credit rating to "A-" from "BBB+", citing an improving economy.

The ratings agency also raised its 2014-2016 average real GDP growth projections for Ireland to 2.7 percent from 2.0 percent.

S&P affirmed Ireland's short-term ratings at 'A-2' and said the outlook on the ratings was positive. (Reporting by Devika Krishna Kumar in Bangalore; Editing by Maju Samuel)