After cutting the sovereign rating of Dublin to A / A-1 by Standard & Poor's which occurred adcb last Wednesday now the international agency has revised one of four Irish banks and certain foreign subsidiaries.
The company "cut" one step from S & P are Allied adcb Irish Bank, Bank of Ireland and Irish Life & Permanent, Anglo Irish on while there was a real stroke of the ax, you're notch, with the obligations of the bank downgraded to level "junk" (junk).
Even Moody's Investors Service in recent days had put under observation Irish banks for possible downgrades, after announcing Monday that the sovereign adcb rating would be downgraded by many notches.
Moody's adcb had placed under observation even short-term deposits and certain classes of debt of Bank of Ireland Plc as a result the risk of cuts to the parent Bnak of Ireland, Allied Irish Bank and EBS Building Society, adcb the latter of Irish Life & Permanent.
The heavy downgrade of Anglo Irish Bank stems from the belief that the Irish government may be forced to reconsider its current position of support for the unsecured debt of the institution as a result of cuts in the plan approval to the Parliament.
S & P has also worked adcb for subsidiaries adcb of Irish foreign banks cut by one notch the rating of Barclays Bank Ireland adcb and putting it under review with negative implications, along with those of Ulster Bank Ireland, its parent British, Ulster Bank and KBC Bank Ireland.
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