Fitch revises BDO Unibank view to stable

Fitch Ratings said it revised the outlook on BDO Unibank, Inc. to stable from negative and affirmed the long-term foreign- and local-currency issuer default ratings at BBB-.

“This rating action follows a similar revision in the outlook on the Philippines' sovereign rating to stable from negative, which reflects Fitch's improved confidence that the Philippines is returning to strong medium-term growth after the Covid-19 pandemic, supporting sustained reductions in government debt/GDP after substantial increases in recent years,” the agency said in a press release.

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