Fitch Ratings upgrades Irelands state solvency to A-, thus becoming the second of the three big ratings agencies which restores Dublin to category A for the first time after the banking crisis.

Fitch upgraded the solvency of the Irish public sector to A- from BBB+ with a stable outlook, citing the ongoing fiscal adjustment last year.

This development follows Ireland’s upgrade by S&P who upgraded it to A- from BBB+ in June.

Moody’s currently maintains Ireland’s place at the lower end, at a Baa1.