DBRS lifts Allied Irish Banks

DBRS said it upgraded the ratings of Allied Irish Banks plc, including its long-term issuer rating, long-term senior debt rating and long-term deposits rating, to BBB (high) from BBB.

The bank’s short-term debt and short-term deposits ratings were also upgraded to R-1 (low).

The bank’s intrinsic assessment was upgraded to BBB (high) and the support assessment was maintained at SA3.

The long-term critical obligations rating was upgraded to A from A (low), and the short-term critical obligations rating remains at R-1 (low).

The trend is stable.

“The upgrade of the long-term ratings reflects the further improvement made by the bank in terms of reducing impaired loans,” the agency said in a news release.

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