Fitch Ratings on July 3 assigned A/F1 long- and short-term issuer default ratings and an A(dcr) derivative counterparty rating to Barclays Bank Ireland PLC, placing the long-term issuer default and derivative counterparty ratings on Rating Watch Positive.

The rating agency also assigned the bank a support rating of 1.

The assignment of ratings reflects Fitch's view of an extremely high probability that the bank will receive support from its parent Barclays Bank PLC if needed. Fitch also expects that Barclays Bank will use the Irish bank for its EU operations after Britain leaves the union in 2019.