# Latest S&P down-grading...what does this mean for the foreign banks?



## micamaca (26 Nov 2010)

[broken link removed]

I know that the Irish banks are in the stew, but what about KBC Ireland? What is their latest credit-rating and can someone explains what it means? All I know is that AAA+ is good and everything else varies from less good to very bad!!

Would be grateful for some economic edumacation please! I checked their website and googled, but did not learn much more.


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## Lightning (26 Nov 2010)

Anglo Irish Bank are now rated junk by S&P. Junk is normally seen as "high-risk" or "very high risk". 

AIB and BOI are now rated BBB by S&P. BBB is seen as "high speculative" or "below investment grade".  BBB companies are risky. 

KBC Ireland are rated A-  by S&P. A- companies are seen as "Upper medium grade" companies. A- companies are of low risk.


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## micamaca (27 Nov 2010)

Hi Ciaran,

that's what I was looking for - brief and concise.  

Thanks for that.

mica


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## machu (27 Nov 2010)

Hi Ciaran,

is there a reliable website that gives the ratings of all the major banks

thanks in advance

machu


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## Expat64 (27 Nov 2010)

Here's the ratings for NIB:  [broken link removed]   which appears to be the same as for Danske Bank:  [broken link removed]   Looks very safe as all give it various types of A.


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## Lightning (27 Nov 2010)

machu said:


> Hi Ciaran,
> 
> is there a reliable website that gives the ratings of all the major banks
> 
> ...



S&P ratings are here: http://www.standardandpoors.com/ratings/en/us

All rating agencies have their ratings on their website, they are also sometimes available on the banks website itself.


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## Lightning (10 Dec 2010)

More downgrades, this time by Fitch:

http://www.rte.ie/news/2010/1210/banks-business.html



> Today, it said it was lowering AIB and Bank of Ireland's rating from A- to BBB. Fitch said their previous ratings reflected the support given to the banks by the State, but it now believed the level of support the State could provide had diminished.
> Fitch has left the ratings of Anglo Irish Bank and Irish Nationwide unchanged, but they remain on 'ratings watch negative', which means they face a future downgrade. EBS has also been moved to 'ratings watch negative', as Fitch believes it is now unlikely to be bought by an institution with a higher credit rating.


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## pudds (10 Dec 2010)

At this stage I'm surprised they even bother to rate any of the financial institutions in this country anymore to be honest.

On the other hand while trying to be positive...the sooner we reach ground zero/rock bottom....the sooner we can begin to start the long climb upwards and hopefully with lessons learned....but I doubt that very much


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## Lightning (20 Dec 2010)

More downgrades. Moody's have downgraded the Irish banks ...

[broken link removed]



> Moody's Investors Service cut its ratings on several major Irish banks days after it slashed its ratings on the European nation itself by five notches.*
> 
> The ratings firm downgraded various ratings of Allied Irish Banks, the Bank of Ireland, EBS Building Society, Irish Life & Permanent, Irish Nationwide Building Society, ICS Building Society and Anglo Irish Bank.*
> 
> ...


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