| 13.4°C Dublin

Ulster Bank downgrade

ULSTER Bank's ratings outlook has been downgraded from stable to negative to take into account Ireland's negative outlook.

Ratings agency Fitch has affirmed RBS and Ulster Bank's credit rating at 'A'.

But it downgraded the outlook, saying that it was sensitive to Ireland's own sovereign rating.

The ratings agency makes no reference to the recent technical difficulties in its assessment of Royal Bank of Scotland, NatWest or Ulster Bank.

Ulster Bank said this week that the cost of the computer glitch will run into the tens of millions.