KBRA Europe Releases Research – Coronavirus (COVID-19): Multinationals Soften Ireland’s Economic Downturn

DUBLIN--()--Kroll Bond Rating Agency Europe (KBRA) releases research highlighting how the presence of large, primarily foreign-owned multinational enterprises (MNEs) in Ireland has helped to cushion the country’s economic downturn due to the coronavirus pandemic. Excluding the MNE sector’s contribution, however, reveals a very different story for the quarter, namely, a steep contraction in domestic activity similar to other European peers.

MNEs are of critical importance to Ireland’s fiscal, macro, and credit prospects. Further, continued strong performance will be an important factor underpinning its economic recovery and, over the medium term, consolidation of public finances.

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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. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) with the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe is registered with ESMA as a CRA. Kroll Bond Rating Agency Europe is located at 6-8 College Green, Dublin 2, Ireland.

Contacts

Analytical Contacts

Alan Madden, Director, Sovereigns
+353 1 588 1230
amadden@kbra.com

Joan Feldbaum-Vidra, Managing Director, Sovereigns
+1 (646) 731-2362
jfeldbaumvidra@kbra.com

William Cox, Global Head of Corporate, Financial, and Government Ratings
+1 (646) 731-2472
wcox@kbra.com

Business Development Contact

Mauricio Noé, Senior Managing Director and Head of Europe
+44 777 193 6570
mnoe@kbra.com

Contacts

Analytical Contacts

Alan Madden, Director, Sovereigns
+353 1 588 1230
amadden@kbra.com

Joan Feldbaum-Vidra, Managing Director, Sovereigns
+1 (646) 731-2362
jfeldbaumvidra@kbra.com

William Cox, Global Head of Corporate, Financial, and Government Ratings
+1 (646) 731-2472
wcox@kbra.com

Business Development Contact

Mauricio Noé, Senior Managing Director and Head of Europe
+44 777 193 6570
mnoe@kbra.com