PTSB’s credit rating upgraded by Moody’s

Ratings agency expects bank’s asset quality to improve

PTSB agreed in July to sell €2.1 billion of non-performing loans. Photograph: Alan Betson

PTSB agreed in July to sell €2.1 billion of non-performing loans. Photograph: Alan Betson

Moody’s, one of the world’s leading credit ratings agencies, has upgraded its stance on Permanent TSB’s (PTSB) creditworthiness, citing the lender’s improving profitability and commitment to lowering its non-performing loans.

Moody’s said on Thursday that it has raised its rating on PTSB’s long-term unsecured debt by one level to Ba2, which remains two rungs below what it considers to be “investment grade”, and suggested that it is inclined to upgrade again in the future.

Please subscribe or sign in to continue reading.
only €1 first month

Insightful opinion is just a away.