S&P places Irish Life on watch

Standard & Poor's said it placed its BB- long-term counterparty credit rating on Irish Life & Permanent plc on CreditWatch with negative implications.

The B short-term rating was affirmed.

S&P said the rating announcement does not affect the ratings on debt issues of Irish Life & Permanent, which are guaranteed by the Republic of Ireland.

The issuer credit rating on Irish Life & Permanent is two notches higher than its b stand-alone credit profile, reflecting S&P's view of the company's "high" systemic importance in Ireland and of the Irish government as "supportive," the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.