DBRS Confirms Irish Guaranteed Debt of The Gov. and Company of the Bank of Ireland at A (low); Neg.

DBRS, Inc. (DBRS) has today confirmed the A (low) long-term ratings and R-1 (low) short-term ratings of the Irish Government Guaranteed instruments issued by The Governor and Company of the Bank of Ireland (Bank of Ireland or the Group). The trend on the long-term ratings is Negative while the trend on the short-term ratings is Stable.

This rating action follows DBRS’s confirmation of the A (low) rating of the Republic of Ireland with a Negative trend on 21 November 2012. Today’s rating action does not impact the other ratings of the Bank of Ireland including its Non-Guaranteed Long-Term Deposits and Non-Guaranteed Long-Term Debt ratings, which remain at BBB (high) with a Negative trend.

Notes:
All figures are in EUR unless otherwise noted.

The principal applicable methodology is the Global Methodology for Rating Banks and Banking Organisations. Other methodologies used include the DBRS Criteria – Intrinsic and Support Assessments. Both can be found on the DBRS website under Methodologies.

The sources of information used for this rating include DBRS ratings for the Republic of Ireland. DBRS considers the information available to it for the purposes of providing this rating was of satisfactory quality.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

Lead Analyst: Roger Lister
Rating Committee Chair: Alan G. Reid
Initial Rating Date: 6 September 2005
Most Recent Rating Update: 9 August 2012

For additional information on this rating, please refer to the linking document under Related Research.