S&P gives IL&P and BoI negative outlooks

BANK of Ireland Plc and Irish Life & Permanent Plc had their credit ratings affirmed by Standard & Poor’s, along with two other banks, and were given negative outlooks.

S&P removed the two Dublin -based banks, together with Ulster Bank Ireland Ltd and Barclays Bank Ireland Plc, from CreditWatch negative, the ratings company said yesterday.

S&P affirmed Ireland’s ‘BBB+ /A-2’ sovereign credit ratings, while saying the outlook is negative. “All of our rated Irish banks now have a negative outlook, except for Irish Bank Resolution Corporation Limited,” S&P said.