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7/14/13

Ireland: S&P raises outlook on Ireland - by Shawn Pogatchnik

Standard & Poor’s raised its outlook on Ireland and forecast Friday that the bailed-out country’s debt levels could improve more quickly than expected as the export-focused economy recovers and government income grows.

The ratings agency kept its risk grade on Irish debt securities at BBB+ but improved its outlook from stable to positive, suggesting a possible rating hike that would drive down Irish borrowing costs. S&P cited Ireland’s commitment to austerity as a key reason for the decision.

Read more: S&P raises outlook on Ireland - The Globe and Mail

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