Fitch Removes Rtg Watch on Muni Bonds Based on 4/15/2011 Affirmation of Allied Irish Banks, p.l.c.

In connection with the Rating Watch being removed on Allied Irish Banks, p.l.c.'s Issuer Default Rating (IDR) (currently rated 'BBB/F2' by Fitch) on April 15, 2011, Fitch affirms the rating on the following bonds at 'BBB/F2'. In addition, the long-term rating is assigned a Negative Outlook and the short-term rating is removed from Rating Watch.

--Oakland-Alameda County Coliseum Authority (CA) (Oakland Coliseum Arena Project) lease revenue bonds series 1996A-2 (LOC: Allied Irish Banks, p.l.c., Bank of New York Mellon (The));
--Pittsburg Public Financing Authority (CA) water revenue refunding bonds series 2008 (LOC: Allied Irish Banks, p.l.c.).

Additional information is available at www.fitchratings.com.

Applicable Criteria and Related Research

--'U.S. Municipal Structured Finance Rating Criteria', dated Aug. 16, 2010.
--'Rating Guidelines for Letter of Credit-Supported Bonds', dated April 29, 2009.

Applicable Criteria and Related Research:
U.S. Municipal Structured Finance Rating Criteria
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=548588
Rating Guidelines for Letter of Credit-Supported Bonds
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=435132

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