Fitch Boosts Irish Bailout Exit Prospects Improving Outlook

Fitch Ratings raised its outlook on Ireland’s debt to stable from negative, boosting the government’s efforts to become the first euro-region nation to exit a bailout since the debt crisis took hold.

Fitch late yesterday affirmed its BBB+ stance on the nation, citing a narrowing of the fiscal deficit and a view that its banks probably won’t need further state capital. London-based Fitch, which removed Ireland from watch negative in January, stripped the nation of its AAA rating in April 2009.