A review of the banking system by ratings agency Standard & Poor's has left Ireland's ranking unchanged.
The Bank Industry Country Risk Assessment rates Ireland's economic risk as 7, in a similar bracket to Hungary, Portugal and Iceland.
The ratings agency says that Ireland's banks benefit from a flexible open economy with favourable foreign direct investment flows. It warns however, that high levels of public and private debt weigh on growth prospects.
The agency further notes that, because of the open nature of the economy, there is "significant vulnerability" to external demand in Europe, the UK and the US.
The agency rates Ireland as being at "very high risk" of "economic imbalances" and "credit risk" in the economy, which are specific measures assessed in the research.
The Government is classified as "supportive" toward the banking system, recognising the level of capital injected into the bank during the crisis, but the study notes that the Government's flexibility in fiscal terms is highly constrained.
The Bank Industry Country Risk Assessment (ICRA) comprises two main areas of analysis, economic and industry risk, where Ireland still scores '7' in both.
