irlanda

[roi7]

qualcuno conosce titoli dello stato irlandese o di banche irlandesi?
se si per cortesia mi fornisce il codice isin e le caratteristiche principali

[Iron Fizzetti]

ciao roi, io ho in portafoglio un piccolo lotto di questo titolo

XS0186652557

Bank of Ireland, scadenza 27/2/2019, rating A+

cedola fissa 4,625% fino al 26.2.2014, poi trimestrale eur3+1,42%

call dalla cedola TV

attenzione, E' UNA SUBORDINATA

Clausola di subordinazione
In caso di insolvenza di Bank of Ireland, l’obbligazione sarà rimborsata solo dopo che saranno stati soddisfatti tutti gli altri crediti per i quali non è prevista la clausola di subordinazione.


attualmente denaro 75,55 lettera 78,2

[roi7]

nn male direi.....
anche se un lunghetta...

[sescendemichiudo]

C'e' anche questa:

IDX/ANGLO IR 09 VRN EUR
ISIN: XS0197019309

Il titolo ANGLO IRISH BANK CPI 19.08.2009 è un’obbligazione indicizzata all’inflazione emessa da Anglo Irish Bank Corporation Plc che corrisponde, per il primo anno, una cedola annua pari al 3% del valore nominale. Per gli anni successivi l’obbligazione prevede il pagamento di cedole annue indicizzate all’inflazione e il rimborso del capitale alla scadenza il 19.08.2009.

[mb1]

UP

[cricket72]

Bank of Ireland 'A' L-T Rating Put On CreditWatch Negative On Expected Asset Transfer And NAMA Plan; Hybrids Cut To 'BB'



Primary Credit Analyst:
Giles Edwards, London
Secondary Credit Analyst:
Nigel Greenwood, London

Publication date: 01-May-09, 13:21:58 EST


LONDON (Standard & Poor's) May 1, 2009--Standard & Poor's Ratings Services
said today that it placed its 'A' long-term counterparty credit rating on Bank
of Ireland (BOI; the trading name of the Governor and Company of the Bank of
Ireland) on CreditWatch with negative implications. At the same time, the
'A-1' short-term counterparty credit rating on BOI was affirmed. Furthermore,
the ratings on BOI's hybrid capital instruments were lowered to 'BB' from
'BB+', and remain on CreditWatch with negative implications.
"The CreditWatch placement follows our consideration of the Irish
government's plan--announced April 7, 2009--to remove the riskiest lending
from the balance sheets of the country's main domestically owned, commercial
banks via the establishment of a National Asset Management Agency (NAMA),"
said Standard & Poor's credit analyst Giles Edwards. (For more information see
"Irish Bank Rating Implications Are Uncertain Following Government's Asset
Transfer Plan," published today on RatingsDirect.)
The impact of the planned transfer of assets to NAMA has been factored
into our assessment of BOI's stand-alone credit profile. We now factor two
notches of support into the ratings on BOI, reflecting our view that the
government will provide further support to BOI if required. We consider BOI to
be of high systemic importance to the Irish banking sector.
The CreditWatch placement of the long-term rating on BOI reflects our
expectation that the NAMA proposal will proceed, but also uncertainty about
the financial profile of BOI following the execution of the NAMA plan. While
we expect that the Irish government would continue to support BOI, the level
of support provided, particularly regarding capitalization, may not be
consistent with the current 'A' rating. "The CreditWatch placement with
negative implications also reflects the very weak outlook for the Irish
economy, the still dislocated wholesale funding market, and the related
challenges faced by BOI in terms of managing asset quality and profitability,"
added Mr. Edwards. We expect to resolve the CreditWatch placement when we have
more details on the NAMA plan, but continuing deterioration of the Irish
economy could prompt negative rating action prior to this. We do not currently
expect the ratings on BOI to be lowered by more than one notch, and they may
be affirmed. An affirmation could result if we consider that, following the
execution of the NAMA plan, the bank's financial profile will be comfortably
positioned to weather the economic downturn.
The CreditWatch placement of BOI's undated capital instruments reflects
our view that, while BOI may continue to be willing to service the coupons on
these instruments, uncertainty persists about whether the authorities,
particularly the European Commission, will continue to allow the bank to do
this. We will resolve the CreditWatch placement of these instruments when the
authorities' position becomes clearer. Should there be no impediment to BOI
servicing its hybrid obligations, the ratings on these instruments may be
affirmed. Should the instruments be downgraded as a result of our view of
increased deferral risk arising from potential authorities' intervention, they
are likely to be lowered to the 'B' rating level or lower.

[cricket72]

Allied Irish Banks 'A' L-T Rating Placed On Watch Negative On Expected Asset Transfer And NAMA Plan; Hybrids Cut To 'BB'



Primary Credit Analyst:
Claire Curtin, London
Secondary Credit Analyst:
Nigel Greenwood, London

Publication date: 01-May-09, 13:24:52 EST


LONDON (Standard & Poor's) May 1, 2009--Standard & Poor's Ratings Services
said today that it placed its 'A' long-term counterparty credit ratings on
Allied Irish Banks PLC (AIB) and wholly owned subsidiary AIB Group (UK) PLC on
CreditWatch with negative implications. At the same time, the 'A-1' short-term
counterparty credit ratings on both entities were affirmed. Furthermore, the
ratings on AIB's hybrid capital instruments were lowered to 'BB' from 'BB+'
and remain on CreditWatch with negative implications.
"The CreditWatch placement with negative implications incorporates our
view of the likely impact of the Irish government's plan--announced April 7,
2009--to remove the riskiest lending from the balance sheets of the country's
main domestically owned, commercial banks via the establishment of a National
Asset Management Agency (NAMA)," said Standard & Poor's credit analyst Claire
Curtin. (For more information see "Irish Bank Rating Implications Are
Uncertain Following Government's Asset Transfer Plan," published today on
RatingsDirect.)
It also reflects our view of AIB's announcement on April 20, 2009, of a
need to raise an additional €1.5 billion in core capital, on top of the €3.5
billion committed by the Government of Ireland (AA+/Negative/A-1+) in the form
of preference shares, following a government stress test.
"The CreditWatch placement of the long-term ratings on AIB reflects our
opinion that the NAMA proposal will proceed, but also uncertainty about AIB's
medium-term business and financial profile following its capital raising and
the execution of the NAMA plan," added Ms. Curtin.
While we expect that the Irish government would continue to support AIB,
the level of support provided, particularly regarding capitalization, may not
be at a level consistent with the current 'A' rating. The financial strength
of AIB will not be clear until execution of NAMA, expected in the coming
months.
The continuing CreditWatch placement also reflects the very weak outlook
for the Irish economy, the still dislocated wholesale funding market, and the
related challenges faced by AIB in terms of managing asset quality and
profitability. Continuing sharp deterioration of the Irish economy on the
bank's asset quality may prompt negative rating action prior to the transfer
of assets to NAMA. We do not currently expect the ratings on AIB to be lowered
by more than one notch, and may be affirmed.
The CreditWatch placement of AIB's undated capital instruments reflects
our view that, while AIB may continue to be willing to service the coupons on
these instruments, uncertainty persists about whether the authorities,
particularly the European Commission, will continue to allow AIB to do this.
We will resolve the CreditWatch placement of these instruments when the
authorities' position becomes clearer. Should there be no impediment to AIB
servicing its hybrid obligations the ratings on these instruments may be
affirmed. Should the instruments be downgraded as a result of our view of
increased deferral risk arising from potential authorities' intervention, they
are likely to be downgraded to the 'B' range or lower.

[Da Loss A Gain]

Sulle obbligazioni senior sono piuttosto ottimista mentre sulle subordinate occorre stare attenti.

C'è il rischio che possa esserci un trattamento diverso in caso di nazionalizzazione delle banche da parte dello Stato (in questo caso l'Irlanda, casi ce ne sono stati in UK).

Quando si nazionalizza per salvaguardare il sistema c/c e bond senior sono generalmente tutelati. Mentre sui subordinati sta al governo dello Stato decidere se tutelare o non tutelare.

Quindi attenzione, le sub possono essere dei grossi affari ma anche dei grossi rischi.

Personalmente vedo tranquille soprattutto le sub delle banche italiane visto che anche i Tremonti Bond sono obbligazioni subordinate e il rischio nazionalizzazione mi pare lontano.

Sugli altri Stati meglio obbligazioni senior se non si vogliono avere patemi, mentre le sub sono da considerarsi investimenti speculativi con i pro e i contro della cosa.

[attilio73]

anche le recenti ABN AMRo Royal bank?