Moody's upgraded Permanent TSB's long-term credit rating to A1 due to improved fundamentals.
Moody's has upgraded Permanent TSB's long-term credit rating from A2 to A1, reflecting improved fundamentals, particularly a record low non-performing loan (NPL) ratio of 1.7%. The upgrade, the first since September 2022, is linked to better asset quality, digital investments, and strong capitalization (CET1 ratio of 14.5%). PTSB is now seen as more resilient and poised for growth, potentially leading to further upgrades if profitability improves.
September 27, 2024
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