S&P raises Ireland's sovereign credit ratings

(Reuters) - Standard and Poor's raised Ireland's long- and short-term sovereign credit ratings to "A/A-1" from "A-/A-2" with a stable outlook, saying the country's growth prospects were solid. The ratings agency said it expected strong economic growth to help further improve the government's budgetary position. The stable outlook balances Ireland's improved government finances, capital market access and financial system asset quality, the agency said.