DBRS Confirms Irish Govt Gteed LT Debt of Allied Irish Banks, p.l.c. at ‘A’; Trend Revised to Pos

DBRS Ratings Limited (DBRS) has today confirmed the Long-Term ratings of the Irish Government Guaranteed instruments issued by Allied Irish Banks, p.l.c. (AIB or the Group) at ‘A’. The trend on the Guaranteed Long-Term ratings has been revised to Positive, from Stable.

This rating action follows DBRS’s confirmation of the Republic of Ireland at ‘A’, and the trend change to Positive from Stable on September 11, 2015. Today’s rating action does not impact the other ratings of AIB including its Non-Guaranteed Long-Term Deposits and Non-Guaranteed Long-Term Debt ratings, which remain at BBB (low), Under Review Negative.

As a result of the guarantee, the Guaranteed Long-Term ratings will move in line with the ratings of the Republic of Ireland.

Notes:
All figures are in Euros (EUR) unless otherwise noted.

The principal applicable methodology is the Global Methodology for Rating Banks and Banking Organisations (June 2015). Other applicable methodologies include the DBRS Criteria: Support Assessments for Banks and Banking Organisations (March 2015) and DBRS Criteria: Rating Bank Capital Securities – Subordinated, Hybrid, Preferred & Contingent Capital Securities (February 2015). These can be found can be found at: http://www.dbrs.com/about/methodologies

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

This is an unsolicited rating. This credit rating was not initiated at the request of the issuer.

DBRS does not audit the information it receives in connection with the rating process, and it does not and cannot independently verify that information in every instance.

Generally, the conditions that lead to the assignment of a Negative or Positive Trend are resolved within a twelve month period. DBRS’s outlooks and ratings are under regular surveillance.

For further information on DBRS historic default rates published by the European Securities and Markets Administration (“ESMA”) in a central repository, see:
http://cerep.esma.europa.eu/cerep-web/statistics/defaults.xhtml.

Ratings assigned by DBRS Ratings Limited are subject to EU regulations only.

Lead Analyst: Ross Abercromby
Rating Committee Chair: Roger Lister
Initial Rating Date: October 20, 2005
Most Recent Rating Update: May 20, 2015

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