Moody’s changes Allied Irish view to stable

Moody’s Investors Service said it changed the outlook for Allied Irish Banks plc to stable from positive and affirmed its ratings as well as the Baa2 senior unsecured debt rating of AIB Group plc.

“The outlook change to stable from positive on AIB’s long-term deposit ratings and AIB Group’s senior unsecured debt ratings reflects Moody’s view that AIB’s asset quality will deteriorate in the short to medium term, due to the deteriorating economic environment, rather than continuing to improve as previously expected,” Moody’s said in a press release.

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