Allied Irish Banks, p.l.c. - Analysis - 2009/06/25 - Moody's Global Credit Research

Report title: Allied Irish Banks, p.l.c.

from Moody's Global Credit Research
19 page (9519 word) report published Jun 25, 2009

Price $300.00 available for immediate download

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...Moody's assigns a bank financial strength rating (BFSR) of D to Allied Irish Banks plc (AIB), which translates into a baseline credit assessment of Ba2. The banks long-term global local currency (GLC) deposit rating is Aa3, on review for possible downgrade. The D BFSR reflects Moody's loss expectations on the bank's loan portfolios, in particular the commercial property and corporate loan books, as well as the residential mortgage book, driven by the depth of the recession in both Ireland and the UK and the expectation of a significant rise in unemployment. It is also consistent with our definition that a bank with a D BFSR may need periodic outside support. The developing outlook on the BFSR incorporates the extremely challenging economy, as well as the uncertainties around how the establishment of the National Asset Management Agency (NAMA) will affect the bank's capital base and ongoing profitability. This Credit Analysis provides an in-depth discussion of credit rating(s) for Allied...

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Allied Irish Banks, p.l.c.

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Moody's Investors Service, a leading global credit rating, research and risk analysis firm, publishes credit opinions, research, and ratings on fixed-income securities, issuers of securities and other credit obligations. Credit ratings and research help investors analyze the credit risks associated with fixed-income securities. Ratings also create efficiencies in fixed-income markets and similar obligations, such as insurance and derivatives, by providing reliable, credible, and independent assessments of credit risk. For issuers, Moody's services increase market liquidity and may reduce transaction costs.

Also from Moody's Global Credit Research

Moody's corrects junior subordinated MTN rating of Allied Irish Banks plc - Rating Action $150.00
Global Credit Research Rating Action 23 NOV 2009 Rating Action: Allied Irish Banks, p.l.c. Moody's corrects junior subordinated MTN rating of Allied Irish Banks plc London, 23 November 2009 -- Moody's Investors Service has today corrected...
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Global Credit Research Issuer Comment 18 SEP 2009 Issuer Comment: Allied Irish Banks, p.l.c. Moody's comments on Irish Government's NAMA announcement Unlikely to have rating implications at the current time Moody's Investors Service...
Moody's downgrades junior subordinated debt of AIB and Bank of Ireland - Rating Action $150.00
Global Credit Research Rating Action 9 SEP 2009 Rating Action: Bank of Ireland Moody's downgrades junior subordinated debt of AIB and Bank of Ireland London, 09 September 2009 -- Moody's Investors Service today downgraded to Ba3 from...
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Global Credit Research Issuer Comment 22 APR 2009 Issuer Comment: Allied Irish Banks, p.l.c. AIB's aim to raise EUR1.5 billion of capital viewed positively but no rating change Allied Irish Banks plc (AIB) announced on April 20 2009...
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