Kroll Bond Rating Agencys (KBRA) latest macro-market comment provides KBRAs insights surrounding our treatment of the United Kingdoms (UK) departure from the European Union (Brexit) as it relates to Irelands sovereign credit rating. KBRAs 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 Irelands economic resilience to remain resolute post-Brexit. KBRA would likely revisit Irelands credit rating if it turns out that the eventual Brexit outcome would have a material long-term impact on the countrys economic and fiscal profile. KBRA ratings are based upon a critical evaluation of credit risk fundamentalsmatters related to ability and willingness to pay debtsand are not a reaction to headlines.
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About KBRA and KBRA Europe
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.
Joan Feldbaum-Vidra, Managing Director
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