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Alongside a host of ratings announcements...>

RATINGS
RATINGS: Alongside a host of ratings announcements from S&P, Moody's will update
its view on Ireland is is likely to be the most interesting of the ratings
announcements.
- Ireland's Moody's rating is A3 with positive outlook. This is a notch lower
than Fitch A (stable) and two notches below S&P's A+ (stable). The higher
ratings of Fitch and S&P and even the positive outlook on the Moody's rating
were all given before the Brexit vote and so before the border/trade issue was
alive.
- The border issue may freeze all rating changes in Ireland until more
information is known about what will happen post Brexit, whereupon ratings will
catch-up. 
- That said, the positive outlook and low ratings at S&P does present an upgrade
risk tonight.

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