(The following statement was released by the rating agency)
LONDON, August 19 (Fitch) Fitch Ratings has upgraded the
long-term senior notes of Bank of Ireland (BOI, BBB/ Negative
Irish Banks, plc (AIB, BBB/Negative/b+) and EBS Limited (EBS,
'A-' from 'BBB+'. A full list of rating actions is at the end of
The rating actions follow the upgrade of Irish's sovereign
currency Issuer Default Rating (IDR; see 'Fitch Upgrades Ireland
Outlook Stable' dated 15 August 2014 at www.fitchratings.com).
KEY RATING DRIVERS AND SENSITIVITIES - SENIOR NOTES
The government-guaranteed notes issuances are senior unsecured
bear the full guarantee of the Irish state. Consequently, their
ratings are the
highest of the issuer's Long-term IDR and Ireland's Long-term
IDR. Irish banks' government-guaranteed notes ratings are
sensitive to any
changes to Ireland's sovereign ratings.
The rating actions are as follows:
Sovereign-guaranteed Long-term notes (XS0496222877): upgraded to
Sovereign-guaranteed Long-term notes (XS0490069266,
XS0496459610): upgraded to
'A-' from 'BBB+'
Sovereign-guaranteed Long-term notes (XS0489634393,
XS0482810958): upgraded to
'A-' from 'BBB+'
Denzil De Bie
+44 20 3530 1592
Fitch Ratings Limited
30 North Colonnade
London E14 5GN
+44 20 3530 1491
+44 20 3530 1012
Media Relations: Elaine Bailey, London, Tel: +44 203 530 1153,
Additional information is available at www.fitchratings.com.
Applicable criteria, 'Global Financial Institutions Rating
Criteria' dated 31
January 2014 are available at www.fitchratings.com.
Applicable Criteria and Related Research:
Global Financial Institutions Rating Criteria
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