DBRS Discontinues Irish Govt Gteed Deposits of Bank of Ireland

DBRS Ratings Limited (DBRS) has today discontinued the ratings on BoI’s Long-Term Deposits Guaranteed by the Irish Government as the remaining liabilities covered under the Eligible Liabilities Guarantee (ELG) Scheme have all matured or have been replaced.

Today’s rating action does not impact the other ratings of BoI including its Non-Guaranteed Long-Term Deposits and Non-Guaranteed Long-Term Debt ratings, which remain at BBB (high) with a Positive trend.

Notes:
All figures are in EUR unless otherwise noted.

The principal applicable methodology is the Global Methodology for Rating Banks and Banking Organisations (July 2016). Other applicable methodologies include the DBRS Criteria – Support Assessments for Banks and Banking Organisations (March 2016), DBRS Criteria: Rating Bank Capital Securities – Subordinated, Hybrid, Preferred & Contingent Capital Securities (February 2017), DBRS Criteria: Guarantees and Other Forms of Support (February 2017) and Critical Obligations Rating Criteria (February 2017). These can be found at: http://www.dbrs.com/about/methodologies

The sources of information used for this rating include SNL Financial, company documents and the National Treasury Management Agency. DBRS considers the information available to it for the purposes of providing this rating to be of satisfactory quality.

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 historical default rates published by the European Securities and Markets Authority (“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, Senior Vice President - Global FIG
Rating Committee Chair: Roger Lister, Managing Director, Chief Credit Officer - Global FIG and Sovereign Ratings
Initial Rating Date: September 6, 2005
Most Recent Rating Update: September 9, 2016

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Information regarding DBRS ratings, including definitions, policies and methodologies, is available on www.dbrs.com.