Ratings Agency raises IL&P rating

Standard and Poor's has raised its rating for Irish Life after its separation from PTSB.

Ratings Agency raises IL&P rating

Standard and Poor's has raised its rating for Irish Life after its separation from PTSB.

Irish Life's rating has been boosted two notches to BBB+ after its acquisition by the Government last week.

The agency said the sale significantly reduced risks and exposures at the institution, related to the weaker Permanent TSB - its former parent.

However, S&P continue to brand Irish Life Assurance with a negative outlook, because of its alignment with the Irish sovereign.

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