After the cuts and threats that have shaken the world financial markets on several occasions, finally a reassuring signal from the American rating agencies. Standard & Poor's has confirmed Ireland's sovereign debt rating. Dublin thus maintains a BBB+ rating in the long term and A-2 in the short term. The outlook also remains stable. The T&C rating does not change: 'AAA', as for all members of the Monetary Union. The ghosts of a further downgrade are leaving, at least for the moment.
"Ireland has sufficient resources until the second half of 2013 - writes S&P in a note - when it will probably be able to return to raise money on the capital market". The agency therefore considers the goal of bringing the deficit-to-GDP ratio below 3% by 2015 achievable and believes that public debt will fall to 103% of GDP in 2015 from a peak of 110% in 2013. According to Standard & Poor's finally, the percentage allocated to Ireland of the European bailout fund EFSF should drop from 6% to around 4,5%.
