Wednesday 20 June
Powered by Ajaxy
Dec 16, 2017 @ 13:42

Fitch upgrades 8 banks after PH rating upgrade

 

These banks benefited from improving economic prospects of the Philippines.

International credit rater Fitch Ratings upgraded the issuer ratings for eight Philippine banks shortly after the country scored a higher credit score.

Fitch upgraded the Philippines to BBB stable on Monday, Dec. 11, as they looked more optimistic for the local economy with the tax reform and infrastructure spending initiatives of the Duterte administration.

Now, the long-term issuer ratings for the government-owned Development Bank of the Philippines and Land Bank of the Philippines were also raised to BBB from BBB-.

Support ratings for privately-owned banks were also bumped up. Enjoying this perks are the Bank of the Philippine Islands (BPI), BDO Unibank, Inc., Metropolitan Bank & Trust Company (Metrobank),China Banking Corporation (China Bank), Rizal Commercial Banking Corp. (RCBC), and the Philippine National Bank (PNB).

Tags: , , ,

Related Stories
Rizal Commercial Banking Corp. slumped to its 17-month low after it priced its stock rights
These bonds are up for grabs until June 8.
Atok Big Wedge, the mining and oil unit of the group of bilyonaryo Roberto Ongpin,
It's that time of the year again.


 

Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.