PTSB returns to investment grade with boosted credit rating

Fitch has upgraded the bank’s long-term rating to BBB, up from BBB-

BBB credit ratings indicate that expectations of default risk are currently low. Picture: Fergal Phillips

PTSB has seen an upgrade to its long-term credit rating.

In a statement, the pillar bank said that Fitch, the credit ratings agency, has upgraded its long-term rating to BBB, up from BBB-, while Permanent TSB Group Holdings’ long-term rated rose from BB+ to BBB-.

The highest long-term credit rating an organisation can receive is an AAA rating. According to the Fitch website, they are assigned only in cases of “exceptionally strong capacity for payment ...