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Analysts see Moody's upgrade for Ireland

Thursday, May 15 10:48:50

There's a better than good chance that Ireland's rating will probably be raised for the second time in less than six months by Moody's Investors Service tomorrow.

Irish and European analysts are today betting that, as the economy stabilises and concern that the euro-region may be under threat eases, the ratings agency will change its rating and outlook.

Moody's will likely raise its ranking to Baa2 from Baa3 tomorrow, when the ratings company is scheduled to deliver its latest verdict on the country, according to six of nine analysts and economists surveyed by Bloomberg News. Three predict no change, the survey shows.

Moody's is upgrading its view as Irish employment grows, the government deficit narrows and the wider crisis which threatened the euro-region's future passes. The ratings company restored Ireland's investment-grade rating in January and last week raised Portugal's rating.