Fitch Ratings has affirmed AIB Group plc's (AIBG) Long-Term Issuer Default Rating (IDR) at 'BBB' and Viability Rating at 'bbb'.

AIBG's other ratings and the ratings on the group's operating companies Allied Irish Banks, plc (AIB) and AIB Group (UK) p.l.c. (AIBUK) have also been affirmed.

All ratings have simultaneously been withdrawn. At the time of withdrawal, the Outlooks were Stable.

A full list of rating actions is below.

Fitch has chosen to withdraw the ratings for commercial reasons. It will no longer provide ratings or analytical coverage of the affected entities.

Key Rating Drivers

The key rating drivers of the issuer and debt ratings on AIBG, AIB and AIBUK are the same as those in the Rating Action Commentary 'Fitch Affirms AIB Group at 'BBB'; Outlook Stable', published on 16 September 2022.

See https://www.fitchratings.com/research/banks/fitch-affirms-aib-group-at-bbb-outlook-stable-16-09-2022 for details.

Rating Sensitivities

Factors that could, individually or collectively, lead to negative rating action/downgrade:

Not applicable, as the ratings have been withdrawn.

Factors that could, individually or collectively, lead to positive rating action/upgrade:

Not applicable, as the ratings have been withdrawn.

VR ADJUSTMENTS

Not applicable, as the ratings have been withdrawn.

Best/Worst Case Rating Scenario

International scale credit ratings of Financial Institutions and Covered Bond issuers have a best-case rating upgrade scenario (defined as the 99th percentile of rating transitions, measured in a positive direction) of three notches over a three-year rating horizon; and a worst-case rating downgrade scenario (defined as the 99th percentile of rating transitions, measured in a negative direction) of four notches over three years. The complete span of best- and worst-case scenario credit ratings for all rating categories ranges from 'AAA' to 'D'. Best- and worst-case scenario credit ratings are based on historical performance. For more information about the methodology used to determine sector-specific best- and worst-case scenario credit ratings, visit https://www.fitchratings.com/site/re/10111579

REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF RATING

The principal sources of information used in the analysis are described in the Applicable Criteria.

Public Ratings with Credit Linkage to other ratings

Not applicable, as the ratings have been withdrawn.

ESG Considerations

Unless otherwise disclosed in this section, the highest level of ESG credit relevance is a score of '3'. This means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. For more information on Fitch's ESG Relevance Scores, visitwww.fitchratings.com/esg

Following the withdrawal of ratings Fitch will no longer provide ESG Relevance Scores for AIBG and its entities.

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