MUMBAI (Thomson Financial) - Fitch Ratings said it affirmed Anglo Irish Bank's long-term issuer default rating at 'A+', short-term IDR at 'F1', individual at 'B' and support at '3' with a stable outlook. The support rating floor is affirmed at 'BB+'.
Fitch said the ratings reflect consistently strong profitability, good asset quality, an extremely low cost/income ratio, diversified funding and stable margins.
It also reflects capitalisation that has a fairly high proportion of preference shares and hybrids, whereas the support rating reflects the moderate probability of support from the Irish authorities, if needed. TFN.newsdesk@thomson.com vsr/rfw COPYRIGHT Copyright AFX News Limited 2007. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.