By Stephen NakrosisMoody's Investors Service on Friday said it upgraded Ireland's foreign and domestic long-term issuer and domestic senior unsecured ratings to Aa3 from A1 and changed its outlook to stable from positive. The decision to upgrade Ireland's ratings was "driven by the significant improvement of Ireland's key fiscal and debt metrics," along with expectations the improvement will be resilient to potential shocks. The outlook reflects the expectation the Irish economy will keep growing at a solid pace in the near to medium term, but will slow from the "exceptional rates" seen in 2021 and 2022. They estimate GDP growth of 4.8% in 2023 and 4.5% in 2024. Write to Stephen Nakrosis at stephen.nakrosis@wsj.com(END) Dow Jones Newswires04-21-23 1740ET

Source: Wall Street Journal April 22, 2023 09:42 UTC