S&P raises outlook on Ireland's credit rating

Standard & Poor's has upgraded from stable to positive its outlook on Ireland's BBB-plus credit rating. The rating agency says Ireland's debt might decline more quickly than expected. "The outlook revision reflects our view that Ireland's general government debt burden is likely to decline more rapidly, as a percentage of [gross domestic product], than we had previously expected," according to S&P. "Ireland's economic recovery is under way."

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