Interesting that for the last several years the Sinn Féin viewpoint has been that committing to repay the bank debt has been the cause of poor ratings, as opposed to the FF/FG view that we had to pay our debts and be seen to pay our debts.
Noonan has now come out with a statement that he expects our Moodys rating to RISE because we have managed to push back the repayment dates on some debt by seven years.
In other words, the less we honour our debt commitments, and the more sustainable our proposed debt repayments the higher our rating will be. Some of us were saying that years ago when we said the government should have a structured default, and drop this ridiculous juvenile nonsense about paying all our debts, when it was obvious that they had gone above sustainable levels.
Are the government slowly realising that Sinn Féin was right, and starting to turn the ship?
Is/was it our commitment to repay in full our debt the reason for our Junk status on Moodys?
Edit. "fall" to "Rise". Nothing worse than having Sync, of all people on this site pointing out your error.