Research Update: AIB Group (U.K.) Long-Term Ratings Raised To 'BB' On Bank Criteria Change; Outlook Remains Negative Dec 11
- Language: English
- Published: December 2011
- Region: Great Britain, United Kingdom
Following a review under Standard & Poor's revised bank criteria (published on Nov. 9, 2011), we have affirmed our 'BB/B' counterparty credit ratings on Allied Irish Banks PLC (AIB). Our ratings on AIB reflect our view of its adequate business position, moderate capital and earnings, adequate risk position, average funding, and moderate liquidity. The ratings on AIB also reflect our view of the bank's high systemic importance in Ireland and our assessment of the Irish government as "supportive", as defined by our criteria. The outlook on AIB remains negative as we see downside risks to AIB's asset quality, material restructuring needs, and clear deleveraging risks, as well as continued macroeconomic uncertainty in the Irish banking system. The CreditWatch placement of...
Companies mentioned in this report are: Allied Irish Banks PLC,Allied Irish Banks N.A. Inc.,AIB Group (U.K.) PLC
Action: Outlook: Negative
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Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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Allied Irish Banks PLC,Allied Irish Banks N.A. Inc.,AIB Group (U.K.) PLC