Permanent TSB Group Holdings has welcomed the decision by ratings agency Fitch to upgrade the bank's long-term rating to BBB, up from BBB-, with a stable outlook.
Fitch had previously upgraded the lender's rating in February 2024.
The bank said the latest upgrade reflects Fitch's expectation that its recent improvement in asset quality will be sustained and that its low-risk profile as a predominantly retail mortgage lender will be maintained.
"We welcome Fitch's latest positive assessment of our risk profile. It reflects well on our business, our asset quality, our capital position and our profitability," PTSB's chief financial officer Barry D'Arcy said.
"PTSB is continuing to make really strong progress in bringing competition and choice to personal and business banking customers," he added.
