Moody’s Investors Service upgraded Ireland to investment grade on Friday，handing the government a major post-bailout boost and opening its already sought-after debt to investors prohibited from buying junk-rated paper.
穆迪投資服務(wù)公司上周五將愛爾蘭信用評級上調(diào)至投資級別，這給予結(jié)束救援計(jì)劃后的該國政府一個重大的幫助，并且將該國債務(wù)從禁止投資的垃圾債券級別變?yōu)閷ν顿Y者開放的債務(wù)。(路透社)
The new Baa3 implies a moderate risk of default. It is the same ranking as Spain.
新的Baa3評級表明一種中等的違約風(fēng)險(xiǎn)。這一評級和西班牙的評級相同。(愛爾蘭獨(dú)立報(bào))
Moody’s cites two key factors behind the upgrade for Dublin：the recovery in the economy and the exit from the three-year bailout orchestrated by Europe and the International Monetary Fund. In particular，the ability of Ireland to return to market funding without the insurance policy of a precautionary credit line was a signal that Moody’s rating was too low.
穆迪引證了提高愛爾蘭級別的兩大主要原因：經(jīng)濟(jì)復(fù)蘇以及退出三年來由歐洲和國際貨幣基金組織安排的救援。尤其是，愛爾蘭在沒有預(yù)防性信貸額度擔(dān)保的情況下能夠重回市場融資顯示穆迪對愛爾蘭信用評級太低了。(華爾街日報(bào))
It is the latest in a run of good news for Ireland，which became the first euro zone country to complete a bailout，made a storming bond market return last week.
對于愛爾蘭來說，這是好消息中最新的一個。愛爾蘭是歐元區(qū)第一個結(jié)束了救援計(jì)劃的國家，今年年初轟轟烈烈地回到債券市場。(路透社)
Moody’s was the only ratings firm to cut Ireland to“junk”. But Ireland’s downgrade always looked anomalous. The country did require a bailout to provide funding when market rates rose sharply from late 2010 onwards;but Ireland has none of the deep-seated structural economic problems facing Portugal and Greece. Rather，it was overwhelmed by its banking crisis： while that has caused huge problems，it did not damage Ireland’s underlying economic strengths.
穆迪是唯一一個將愛爾蘭信用評級下調(diào)至垃圾級別的評級公司。但是愛爾蘭的降級看上去總是不那么和諧。愛爾蘭確實(shí)在2010年末在市場利率大幅拉升的情況下申請了基金救助。但是該國并沒有葡萄牙和希臘所具有的深層次結(jié)構(gòu)性經(jīng)濟(jì)問題。相反的，它被銀行業(yè)危機(jī)所擊垮，盡管引起了巨大的問題，但是并未損害到愛爾蘭的經(jīng)濟(jì)基礎(chǔ)。(華爾街日報(bào))
Fitch，which rates Irish debt three notches above junk status at BBB+ with a stable outlook，is next in line to give an update in a month’s time. S&P lifted the outlook on its BBB+ rating to positive last year and will review it again in June.
惠譽(yù)給愛爾蘭的債務(wù)評級是BBB+，高于垃圾級別三個等級，該公司將是下一個更新愛爾蘭級別的公司。標(biāo)普曾在去年將BBB+評級的展望提升為正面，并將在今年6月份再度進(jìn)行復(fù)審。(路透社)
“This is a better-than-expected result for Ireland，to get the outlook changed to positive is an added bonus，”said Ryan McGrath，a bond dealer at Cantor Fitzgerald. “What it means on Monday morning is that yields are going to trade lower.”
Cantor Fitzgerald的債券交易員瑞安.麥克格拉斯表示，這對愛爾蘭來說是一個好于預(yù)期的結(jié)果，展望變?yōu)檎媸且粋�額外的獎勵。這意味著周一早盤(愛爾蘭債券)收益率將走低。(路透社)
Ireland has seen a strong start to 2014：it has raised EUR3.75 billion in a new 10-year bond that drew orders of EUR14 billion，with 83% of demand coming from foreign investors. Its stock market is booming，unemployment is falling and survey data such as Markit’s purchasing managers’indexes suggest growth will continue.
愛爾蘭今年有一個強(qiáng)勁的開局。它已經(jīng)發(fā)行了一筆37.5億歐元的10年期債券，投資者的投標(biāo)規(guī)模超過140億歐元，其中83%的需求來自國外投資者。愛爾蘭股票市場漲勢不錯，失業(yè)率在下降，調(diào)查數(shù)據(jù)如Markit采購經(jīng)理人指數(shù)都顯示增長將繼續(xù)。(華爾街日報(bào))
However，the government still has work to do to reduce its budget deficit further，although Moody’s thinks achieving a target of below 3% of GDP by 2015 is doable. And with gross debt set to peak at 124% of GDP (although net debt is lower， at just under 100%)， Ireland faces a long haul in reducing that burden.
不過，愛爾蘭政府仍需要進(jìn)一步減少預(yù)算赤字，穆迪認(rèn)為2015年將預(yù)算赤字減至GDP的3%以下是可行的。由于總債務(wù)已經(jīng)達(dá)到GDP124%的峰頂(盡管凈債務(wù)較低，為100%以下)，愛爾蘭要減少債務(wù)負(fù)擔(dān)還有很長的路要走。(華爾街日報(bào))
A new $100 million fund aimed at strengthening ties between Ireland and China has been established by the National Pensions Reserve Fund. The China Ireland Technology Growth Capital Fund will invest in fast-growing companies in Ireland that have an interest or presence in China，and will also back similar Chinese firms that want to set up here.
旨在鞏固愛爾蘭和中國關(guān)系的金額為1億美元的基金已經(jīng)由愛爾蘭國家養(yǎng)老儲備基金設(shè)立。中國愛爾蘭科技發(fā)展資本基金將投資于愛爾蘭對中國有興趣或者已經(jīng)在中國展開業(yè)務(wù)的快速增長的公司，同時也將支持類似打算在愛爾蘭發(fā)展的中國公司。(愛爾蘭時報(bào))