S&P also put the banks' unsecured and nondeferrable
subordinated debt (NDSD) -- which have lower priority than other bonds if the company goes bankrupt -- rating "on CreditWatch with negative implications.
Also, we lowered our issue rating on Temirbank's nondeferrable
subordinated debt to 'CCC' from 'CCC+'.
17 December 2010 - S&P today cut its rating on Allied Irish Banks' (ISE:ALBK) lower tier 2 securities to CCC from B citing a "clear and present risk" of a restructuring of this nondeferrable
30 September 2010 - S&P yesterday slashed to CCC from B its rating on Anglo Irish Bank's lower tier 2 securities, citing a "clear and present risk" of a restructuring of this nondeferrable
dated subordinated debt.