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Wednesday 7 December 2016

Moody's boosts banks' ratings

BANKS

International ratings giant Moody's has upgraded its outlook on Bank of Ireland and AIB in another sign of the Irish banking sector's slow return to stability.

AIB has been upgraded to Ba1 from Ba2 while Bank of Ireland has been moved to Baa2 from Baa3, which Moody's says reflects the more stable outlook of the banks. Moody's said in a statement that its outlook on AIB "reflects Moody's expectation that the favourable operating environment will allow AIB to continue strengthening its credit fundamentals.

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