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Tánaiste welcomes Moody’s upgrade of Ireland’s credit rating to Aa2
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From: Department of Finance
- Published on:
- Last updated on:
The Tánaiste and Minister for Finance Simon Harris has welcomed the upgrade of Ireland’s long-term sovereign credit rating by Moody’s to Aa2 from Aa3, with a positive outlook.
The upgrade reflects Moody’s assessment that Ireland’s strong economy will continue to grow, and will be supported by investment under the NDP, declining debt burden and record of sound fiscal management.
The Tánaiste and Minister for Finance, Simon Harris T.D. said:
“I welcome Moody’s announcement upgrading our credit rating from Aa3 to Aa2. Ireland now enjoys a rating of at least ‘AA’ from all major credit rating agencies.
"This upgrade demonstrates the fundamental resilience and strength of the Irish economy and is further evidence of this Government’s record of careful management of the public finances. Given recent volatility in the bond market, this record is critically important to Ireland’s economic wellbeing.
"As we begin preparations for Budget 2027 we will continue to build on the progress we have made. Budget 2027 will be a budget with a tax package that supports workers at a time when cost of living pressures are weighing on so many people, improves public services and continues to invest in critical infrastructure.
"Moreover, we will continue to build fiscal buffers by running surpluses, investing in our sovereign wealth fund, the Future Ireland Fund, and saving money in the Infrastructure, Climate and Nature Fund. This will ensure that we have the flexibility to respond to today’s challenges, while preparing for those to come.”
ENDS
Notes to the editor
- The Aa2 rating is Moody’s third-highest long-term rating (after Aaa and Aa1)
- Moody’s previously upgraded Ireland to Aa3 in April 2023.