KBRA Releases Macro-Market Research on Ireland: KBRA Will Look to Fundamentals in Event of No-Deal Brexit
DUBLIN--(BUSINESS WIRE)--Jan 24, 2019--Kroll Bond Rating Agency’s (KBRA) latest macro-market comment provides KBRA’s insights surrounding our treatment of the United Kingdom’s (UK) departure from the European Union (“Brexit”) as it relates to Ireland’s sovereign credit rating. KBRA’s view on Ireland is based upon the expectation that Brexit will prove manageable for the country due to two main reasons: (1) a “soft” rather than “no-deal” Brexit appears more likely at this point, and (2) our expectations for Ireland’s economic resilience to remain resolute post-Brexit. KBRA would likely revisit Ireland’s credit rating if it turns out that the eventual Brexit outcome would have a material long-term impact on the country’s economic and fiscal profile. KBRA ratings are based upon a critical evaluation of credit risk fundamentals—matters related to ability and willingness to pay debts—and are not a reaction to headlines.
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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.
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CONTACT: Analytical Contacts:
Alan Madden, Director
Joan Feldbaum-Vidra, Managing Director
+1 (646) 731-2362
KEYWORD: UNITED KINGDOM EUROPE IRELAND
INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE
SOURCE: Kroll Bond Rating Agency
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PUB: 01/24/2019 09:00 AM/DISC: 01/24/2019 09:01 AM