BDO’s dollar notes are worth investing in — Moody’s
BDO’s stable profile and sufficient capital assures that it can pay debts well and on time.
International credit rating agency Moody’s Investors Service vouched for BDO Unibank Inc.’s good credit standing, as it gave a Baa2 rating for the dollar notes which the Philippine bank wanted to sell abroad.
In a statement, Moody’s analysts gave BDO’s dollar bond offering a rating that’s above minimum investment grade, which matches the rating given to the Philippine economy.
Moody’s assessment came one day ahead of BDO’s announcement as it raised $700 million from foreign investors by offering dollar-denominated bonds with a 5.5-year maturity.
“The Baa2 senior debt rating is anchored on BDO’s baa2 baseline credit assessment and Moody’s expectation of a very high probability of systemic support from the Philippine government,” Moody’s said, noting of the bank’s stable profits, robust funding, and ample liquidity.