Moody's upgrades Irish government-backed debt

Moody's Investors Service said it upgraded to Baa3/P-3 from Ba1/NP the government-guaranteed debt ratings of four Irish banks: Allied Irish Banks, plc, Bank of Ireland, EBS Ltd. and Permanent tsb plc. The outlook on these debt ratings was changed to positive from stable.

The action follows Moody's upgrade of Ireland's government bond rating to Baa3 from Ba1 and the change in outlook on this rating to positive from stable.

These banks' standalone bank financial strength ratings are unchanged, so their other ratings are unaffected by this rating action.

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