Ireland credit rating upgraded at S&P

|By:, SA News Editor

Upgrading Ireland's sovereign debt rating to A- fro BBB+, S&P writes: "The upgrade reflects our view of the brightening prospects for Ireland's domestic economy, which we expect to underpin further improvements in the government's financial profile, capital markets access, and financial system asset quality."

The agency gives a one-in-three chance of another upgrade in the next two years.

Bond markets long ago upgraded Ireland, and the yield on its 10-year paper at 2.45% trades below that of the U.S. Interesting times.

ETFs: EIRL

CEFs: IRL