Research Update: Ulster Bank 'BBB+/A-2' Ratings Affirmed, Off Watch Following Irish Sovereign Action, Outlook Negative Jan 12
- ID: 2042660
- January 2012
- Region: Ireland
- Standard & Poors
Standard & Poor's affirmed its 'BBB+/A-2' sovereign credit ratings on the Republic of Ireland on Jan. 13, 2012, and removed the ratings from CreditWatch with negative implications. We are affirming our 'BBB+/A-2' long- and short-term counterparty credit ratings on U.K.-based bank Ulster Bank Ltd. (UBL) and its Irish subsidiary, Ulster Bank Ireland Ltd. (UBIL). We are also removing the long-term and short-term ratings from CreditWatch negative, where they were placed on Dec. 7, 2011. The outlook is negative, which matches that on the Irish sovereign and our view that we would not rate UBL or UBIL above the Irish sovereign. On Jan. 20, 2012, Standard & Poor's Ratings Services affirmed its 'BBB+' long-term and 'A-2' short-term counterparty credit ratings on...
Companies mentioned in this report are: Ulster Bank Ltd.,Ulster Bank Finance PLC,Ulster Bank Ireland Ltd.
Action: Outlook: Negative
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.
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.
SHOW LESS READ MORE >
Ulster Bank Ltd.,Ulster Bank Finance PLC,Ulster Bank Ireland Ltd.