Standard and Poor's affirms credit ratings on Ireland, outlook said stable

PARIS, Dec 23 (AFP) - The ratings agency Standard and Poor's said Thursday it had affirmed its long- and short-term credit ratings on Ireland, citing the country's solid economic growth and the healthy state of government finances.
The agency maintained its AAA long-term rating and its A-1 short-term sovereign credit rating, adding that its outlook on Ireland was "stable."
"The ratings on the Republic of Ireland are supported by the diversified and flexible nature of the economy, strong general government finances and favorable demographic structure and future pension liabilities," credit analyst Trevor Cullinan said in a statement.
The agency also noted that economic growth had outperformed the AAA average since 1995, bolstered by sizeable foreign direct investment inflows, strong productivity gains and employment growth.

12/23/2004 18:50 GMT - AFP