OREANDA-NEWS. Expert RA Rating Agency (RAEX) upgraded Ireland sovereign rating to BBB- ("Acceptable level of creditworthiness") in foreign and national currencies. Credit environment rating of the country was also upgraded to BBB+ ("Acceptable quality of credit environment) in foreign and national currencies. Previously the country had sovereign credit rating BB- ("Sufficient level of creditworthiness") and credit environment rating BBB ("Acceptable quality of credit environment") in foreign and national currencies.

The sovereign credit rating and credit environment rating of Ireland were positively influenced by reserve status of the national currency (Euro), EC membership, moderate share of short-term in total state debt, low level of state debt rates.

As rating-restraining factors the Agency's analysts highlighted extremely high level of corporate debt burden, both high level and growth of the government debt burden.

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