Moody's changes Philippine bank outlooks

Moody's Investors Service said it revised the outlook of the debt and deposit ratings of 11 Philippine banks, including Allied Banking Corp., Banco de Oro Universal Bank, Bank of the Philippine Islands, Development Bank of the Philippines, Equitable-PCI Bank, Land Bank of the Philippines, Metropolitan Bank & Trust Co., Philippine National Bank, Rizal Commercial Banking Corp., UnionBank of the Philippines and United Coconut Planters Bank.

The agency noted that the not-prime short-term deposit ratings and bank financial strength ratings of all 11 are unaffected.

This action follows the change in Moody's outlook to negative for the Philippine country ceilings - B1 foreign currency long-term debt and B1 local currency government bond rating.

Outlooks revised to negative: Allied Banking Corp., foreign currency long-term deposit rating of B1; Banco de Oro Universal Bank, foreign currency senior debt rating of B1 and foreign currency long-term deposit rating of B1; Bank of the Philippine Islands, foreign currency long-term deposit rating of B1; Development Bank of the Philippines, foreign currency long-term deposit rating of B1 and local currency long-term deposit rating of Ba2; Equitable PCI Bank, foreign currency senior debt rating of B1, foreign currency long-term deposit rating of B1 and foreign currency subordinated debt rating of B1;

Land Bank of the Philippines, foreign currency long-term deposit rating of B1; Metropolitan Bank and Trust Co., foreign currency long-term deposit rating of B1 and foreign currency subordinated debt rating of B1; Philippine National Bank, foreign currency long-term deposit rating of B1, local currency senior debt rating of Ba2, and local currency subordinated debt rating of Ba3; Rizal Commercial Banking Corp., foreign currency senior debt rating of B1 and foreign currency long-term deposit rating of B1; UnionBank of the Philippines, foreign currency senior debt rating of B1 and foreign currency long-term deposit rating of B1; United Coconut Planters Bank, foreign currency long-term deposit rating of B1.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.