S&P says banks pose less of a risk to economy

The Irish banks pose less of a risk to the wider economy as the sector is buoyed by robust growth, according to Standard & Poor’s.

The ratings agency upgraded the outlook for Bank of Ireland from negative to positive, while affirming its ‘BB’ rating.

The other domestic banks had their ratings reaffirmed. S&P maintained Permanent TSB’s CreditWatch with negative implications on its ‘B+’ rating.