What is happening and written in this illustration/artwork?

On this illustration an angel/cherub, two men, some dogs and some sheep. It is very hard to read what the tekst on what the angel/cherub is carrying. The tekst says Gloria but the other two words I can't make out. From an answer in a different post and the book of hours I found out a lot about these illustrations, I only have a hard time figuring this one out. Can someone help me out?