S&P cuts credit rating on Permanent TSB

Ratings agency Standard & Poor's has lowered its long-term credit rating on Permanent TSB to 'B+' from 'BB-' and said that the outlook is negative.

19th July, 2012

Ratings agency Standard & Poor's has lowered its long-term credit rating on Permanent TSB to 'B+' from 'BB-' and said that the outlook is negative.

The long-term rating was removed from credit watch, where it had been placed with negative implications in March 6, 2012. S&P affirmed its 'B' short-term rating on the bank.

S&P said that the rating action follows its review of the bank's strategy and future profile following the announcement at...

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