S&P upgrades Ireland's rating

S&P upgraded the rating on Irish sovereign to “AA+” from “AA” on Friday, citing 'the country's improved resilience to economic and fiscal shocks.

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Despite rising global trade protectionism, including from key trading partner and investor, the US, Ireland’s domestic economy has consistently expanded over the recent years.

“The economy's diversity, the significant fiscal and economic buffers, the sound policy settings, and membership in the EU and the euro area will help authorities shield households and companies from a slowdown in global growth, a withdrawal of foreign direct investment, or deteriorating terms of trade,” the global ratings agency said in a statement.