S&P Corrects Short-Term Local Currency Rating On Irish Life & Permanent's Guaranteed MTNs By Removing CreditWatch Status May 11

Standard & Poors, May 2011

Abstract
STOCKHOLM (Standard & Poor's) May 18, 2011--Standard & Poor's Ratings Services said today that it had corrected its 'A-2' short-term local currency debt ratings on the guaranteed medium-term note (MTN) program of Irish Life & Permanent PLC (ILP; BB+/Watch Neg/B) by removing them from CreditWatch negative. Due to an administrative error, the short-term local currency ratings on ILP's €15 billion guaranteed MTN program were placed on CreditWatch negative on April 5, 2011. Today's press release corrects this error by removing the CreditWatch status of the ratings on these instruments. The error did not affect the 'BB+' long-term and 'B' short-term counterparty credit ratings on ILP and they remain on CreditWatch, where they were placed with negative implications on Nov. 26,...

Companies mentioned in this report are:
- Permanent TSB PLC

Action: Removed From CreditWatch

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

- Permanent TSB PLC

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