Niall Collins (Limerick, Fianna Fail)
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To ask the Minister for Finance the engagement his Department and National Treasury Management Agency officials have had with ratings agencies with a view to seeking an upgrade of Ireland’s sovereign debt rating; and if he will make a statement on the matter. [1999/13]

Michael Noonan (Limerick City, Fine Gael)
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The NTMA has responsibility for maintaining a relationship with each of the rating agencies, in connection with the sovereign credit rating. Each rating agency visits Ireland at least once a year as part of their formal rating review processes. Meetings are scheduled with all relevant authorities during these visits, including the Department of Finance, NTMA, Central Bank and other public and private sector bodies. The NTMA also makes a detailed presentation to the agencies during its overseas investor visits whenever possible and updates them monthly (through email) on developments in the public finances and the broader economy. Any important irregular information is also communicated to the agencies by the NTMA.

The authorities aim to be as transparent as possible with the agencies in order to ensure that all relevant information is provided to them and that Ireland’s positive steps towards improving its creditworthiness are highlighted.

As the Deputy may be aware Ireland’s rating has not been downgraded since mid-2011 and has recently been moved to stable outlook with Fitch and R&I.

For information, detailed below is a list of all Irelands current credit rating amongst all major rating agencies.

Current ratings:

Fitch: BBB+, stable outlook

Standard and Poor’s: BBB+, negative outlook

Moody’s: Ba1, negative outlook

DBRS: A (low), negative outlook

R&I: BBB+, stable outlook