Moody’s could cut Ulster Bank Ireland

Moody's Investors Service said it placed Ulster Bank Ireland Ltd.'s Baa3/provisional Baa3 long-term deposit and senior unsecured debt ratings, as well as the Ba2 subordinated debt rating, on review for downgrade.

The agency also placed the bank’s short-term deposit/CD program ratings of P-3 and commercial paper rating of P-3 under review for downgrade, along with the baa3 adjusted baseline credit assessment.

Moody’s said the review follows the publication of its new bank rating methodology on March 16, which is now the primary methodology for all of Moody's bank ratings globally. Additionally, the agency withdrew the bank’s E+ bank financial strength rating.

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