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RATINGS AGENCY MOODY’S has given Ireland its second upgrade in a year.
It wasn’t a totally unexpected move: yesterday, we reported how it Moody’s looked set to upgrade Irish debt up two notches, from Baa3 to Baa2, with a stable outlook.
That’s still one notch below where other agencies – like Standard & Poors and Fitch – rate this country’s treasury bills.
Danske Bank analyst Owen Callan said yesterday that Moody’s is “catching up with realities in general on the ground. Clearly they had a change of heart on how they view the eurozone overall.”
The agency had been criticised for how slow it was to upgrade its rating of Irish government debt.
This evening, the National Treasury Management Agency welcomed the decision, with NTMA Chief Executive John Corrigan saying:
Moody’s upgrade means that all of the three main rating agencies now have Ireland rated at BBB+ (or equivalent), which clearly ranks Ireland as an investment-grade credit and reflects the confidence in Ireland shared by investors generally.
He said the news is also positive for the remainder of the NTMA’s funding programme in 2014 which is already more than 80 per cent achieved.
“I am pleased to note that one of the main drivers for today’s upgrade was the sharp reduction in Government contingent liabilities due in part to the accelerated asset sales by NAMA,” he said.
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Moodys can fcuk right off…
It’s better than Baa humbug.
How are these clowns still in business? You’d need to be fairly gullible to believe anything they come out with!
Remember Anglo Irish Bank was AAA rated in 2005. Great job Moodys. Making it up as you go along.?
Anglo was only AAA then cos of all the lies they told about how the bank was operating. And wasn’t only rated that by Moody’s. Back then people thought the Anglo model was the way to go. And it did seem that way for a while. Businesses were benefiting by their lending policies or thought they were. Hindsight and all that.
Why do I feel that this makes fupp all difference to my life or to my bank balance?
Because you’ll always be poor.
Good christ you people are miserable.
Ah nothing like a bit of misery! Now if we could take that and create an asset from it I reckon moody’s would be rating Ireland AAA+.
Moody’s can go Fcuk themselves. And they can take that to the bank
They rated the sub prime mortgages as top class before they were identified as junk.
More good news on the economy. Proof the government is doing a great job.
Remember this in the elections folks.
Oh we’ll remember alright with bells on don’t you worry, We’ll remember all the lies they told us just to get into power and we will have our say, It’s just a pity it’s not a general election.
Moody’s = c$nts
Well I can tell you Moody’s!! The mood is bad here.
As a measure of market sentiment, it might be weakly defensible; as an assessment of economic and financial reality, it is as delusional as the ratings formerly given to derivatives based on sub prime securities.
The people commenring have got to be the most depressing shower of people of any site on the internet.
Maybe if ye get up and make something of your lives with whats available you might manage to crack a smile every so often.
They are all hoping for the apocalypse. Riots and anarchy. Positive news angers them as their brains cannot compute the magnitude of Ireland’s problems, the compromises that had to be made and the fact we are now in slow recovery.
Coming from a party forged from an ‘Us vs Them’ mentality, they need an enemy, hate and confrontation to feel relevant. Ireland United, so long as it is only them.
Huzzah!
It’s means nothing for us! Just same ole struggling to get by.
They take us for idiots roll onn 23 rd then watch FG and labour desinigrate
I’m gonna have a little wry smile on my face when they come out on top :)
Or maybe they’re not blinded by bullish.t pr and spin like you pair of muppets
Why is it bullsh1t or spin? So if they downgraded it wouldn’t be bull but the fact that it’s positive mean means it is??!! Just because something that is positive for the country doesn’t directly impact positively on your life doesn’t make it rubbish…i am not pro government by any means but I have a pain in my face reading comments on the journal on any article that has positive news about the country or the country’s economy…straight away it’s like “oh it’s an election stunt” or “it’s lies…great spin doctors!” Jesus you take the negative so much more easily.. Everybody’s lives have been impacted by the downturn & subsequent cuts etc, some more than others obviously but Jesus try and take some positivity from where there might actually be some…
Just thinking the same thing Gary. Eamonn Coughlan talks a bit of nonsense and there is a million comments. A bit of good news and there is under 30 in 24 hours, the majority of them being negative about it. Sickens me Swiss roll.
Wow I am so delighted. It’s a sunny day and to cap it all, Moodys has given us all an approving nod. I am so happy I could shit. So that’s what I am off to do. Good enough lads?
Don’t burst a blood vessel
Well Charlie at least you didn’t give us an armchair economist opinion on how this is really bad news.
Fair play to you.
Just another few thousand more medical card withdrawals and FG LABOUR will have us back to AAA status!
have your say