Ratings agency Standard & Poor's has revised downwards its outlook on Irish Life and Permanent from stable to negative.
The agency said it was doing this because it expects Irish Life & Permanent's weak financial profile to persist for the foreseeable future. It also said that IL&P's earnings performance has declined.
'The strategic uncertainty over the future role of the banking operations within the group may linger,' S&P added.
It said it could revise the outlook back to stable if Irish Life & Permanet is able to demonstrate margin stability, a stronger downward trend in loan impairment charges and an improvement in its funding profile.
Shares in Irish Life and Permanent closed 2.5% lower at €1.60 in Dublin this evening.
