S&P rates Security Bank BB+

Standard & Poor’s said it assigned its BB+ long-term and B short-term issuer credit ratings to Security Bank Corp.

The outlook on the long-term rating is stable.

S&P also assigned an axBBB long-term and axA-3 short-term Asean regional scale ratings to the Philippine bank.

S&P said it based its rating on Security Bank on the bank’s “adequate” business position, “adequate” capital and earnings, “strong” risk position, “average” funding and “adequate” liquidity.

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