Last July, the Government’s revised National Development Plan included a multi-billion-euro promise to recapitalise the state-owned companies tasked with modernising Ireland’s electricity and water infrastructure. Now the imminent delivery of ESB’s slice of this investment has triggered the ratings agency Standard & Poor’s (S&P) to upgrade the energy company’s bonds rating from A- to A. “The recent announcement of a €1.5 billion equity injection from the Government to support network investments is, in our view, strong evidence of increased government support,” the S&P report supporting the decision stated. “We expect the announced €1.5 billion equity injection from the State to…

Want to continue reading?

Celebrate with us – 7 years of The Currency

Unlock full access to The Currency and The Wall Street Journal with an annual membership and receive a FREE Samsonite Spectrolite Briefcase – worth €175 delivered to your door.

Subscribe

Cancel at any time.

Are you already a member? .