S&P upgrades Ireland to A-

Standard & Poor's said it raised the long-term foreign and local currency sovereign credit ratings on the Republic of Ireland to A- from BBB+.

The short-term ratings were affirmed at A-2.

The outlook is positive.

S&P said the upgrade reflects its view of the brightening prospects for Ireland's domestic economy, which the agency expects to underpin further improvements in the government's financial profile, capital markets access and financial system asset quality.

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