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Irish fiscal, bank reform to steady ratings -Fitch
November 4, 2009 / 11:27 AM / 8 years ago

Irish fiscal, bank reform to steady ratings -Fitch

DUBLIN, Nov 4 (Reuters) - Fitch on Wednesday cut Ireland’s sovereign rating to ‘AA-’ from ‘AA+’ citing the severity of the economic and fiscal downturn, but said the outlook was stable due to Dublin’s aggressive measures to solve the problems.

“The agency notes the vigour of the government’s fiscal consolidation response to date, the expectation of further aggressive budget tightening and the likely success of the National Asset Management Agency (NAMA) in rehabilitating the banking sector,” it said. “All these factors have helped stabilise the outlook for Ireland’s creditworthiness.”

Reporting by Andras Gergely; Editing by Ron Askew

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