Kroll Bond Rating Agency (KBRA) releases a macro-market commentary, "Ireland's Politics Assist Stable Macro Policies." Ireland stands out prominently among its peer group of advanced economy sovereigns for several reasons competitiveness and dynamism amongst them but policy continuity and coherence are also similarly remarkable and distinguishable. The report discusses how Ireland's recent economic crisis did have an impact on political stability; it decimated the incumbent Fianna Fáil party, resulting in a changeover of power to a Fine Gael-led coalition, followed later by a Fine Gael-led minority government. However, the overall policy stance regarding key issues including some critical to sovereign credit analysis such as fiscal policy, European integration, and international affairs -- has remained largely unchanged. This macro-market comment discusses how historical and country specific factors have played a key role in the evolution of a harmonised and stable policy agenda in Ireland.
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KBRA is a full service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus, is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider, and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.
Kroll Bond Rating Agency
Joan Feldbaum-Vidra, Managing Director
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Elliott Doak, Intern