by Associated Press S&P says Ireland rebounding, raises credit rating Associated Press - 5 December 2014 12:59-05:00 DUBLIN (AP) — Standard & Poor's has raised Ireland's credit grade one notch to A and says the country is rebounding with surprising strength from its 2010 international bailout. The New York-based agency issued its report after Dublin markets closed Friday. It raised its forecast for Irish economic growth to 3.7 percent annually through 2016, versus its previous forecast of 2.7 percent, and credited the Irish government with reducing its debt burden more rapidly than expected. Ireland is now two notches below S&P's top AAA grade. Finance Minister Michael Noonan welcomed the report and said it would boost his chances to win increased investment from China during meetings next week in Beijing and Shanghai. S&P says Ireland is outperforming fellow eurozone bailout recipients Greece, Portugal, Cyprus and Spain. News Topics: Business, General news People, Places and Companies: Dublin, Ireland, Western Europe, Europe Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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