Credit rating agency Standard and Poor has said it is reviewing the rating given on Irish Life and Permanent's US operations. S&P says the decision follows ILP's announcement that it is conducting a strategic review of its US operations.
ILP's chief executive David Went has indicated that the poorly performing US business may be sold off following the review.
S&P says Irish Life and Permanent Plc is unaffected by this rating action, and if, following the review, the company decides to continue operating in the US then the A+ rating will be restored.
