NTMA welcomes Moody’s upgrade of Ireland’s sovereign debt rating to A1

New A1 rating is Ireland’s highest from Moody’s since 2010

The National Treasury Management Agency (NTMA) welcomes today’s Moody’s upgrade of Ireland's sovereign credit rating to A1 with a positive outlook.

The upgrade is the first from Moody’s since 2017. The new A1 rating is Ireland’s highest from Moody’s since 2010.

Moody's also maintained Ireland’s short-term rating at the highest level of P-1.

In making its decision to upgrade and maintain a positive outlook, Moody’s cited the improvement in Ireland’s economic resilience and the expectation that Ireland’s government debt will decline in the coming years.

Moody’s forecasts that debt dynamics will improve from 2022 onwards, resuming the trend recorded in the years leading up to the pandemic.

Frank O'Connor, NTMA Director of Funding and Debt Management, said:

This is a strong endorsement of the resilience of the Irish economy.

It is the third upgrade by a major ratings agency in recent months, following upgrades by DBRS Morningstar and Fitch earlier in the year.

This pattern of upgrades adds to the existing positive sentiment among investors towards Irish sovereign debt, which strengthens our ability to attract a deeper pool of investors and increase liquidity in our issuance.”

Article Published: 06/05/2022