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Bulletin: Ratings On Philippine Commercial Banks Unaffected By Upgrade Of Sovereign Nov 10
Standard & Poors, Nov 2010
Abstract
SINGAPORE (Standard & Poor's) Nov. 12, 2010--Standard & Poor's Ratings Services said today that the upgrade of the foreign currency sovereign credit rating on the Republic of the Philippines will not have an immediate effect on the counterparty credit ratings on Banco de Oro Unibank Inc. (BB-/Stable/B) and Metropolitan Bank & Trust Co. (BB-/Stable/B). Standard & Poor's Ratings Services raised its long-term foreign currency sovereign credit rating on the Republic of the Philippines to 'BB' from 'BB-'. The upgrade is based on its steadily improving external liquidity profile and underlying strengths of its external accounts (see 'Foreign Currency Rating On Philippines Raised To 'BB' With Stable Outlook; Other Ratings Affirmed,' published Nov 12, 2010). The 'BB-' counterparty credit ratings on...
Companies mentioned in this report are: Banco De Oro Unibank Inc. (Unsolicited Ratings),Metropolitan Bank & Trust Co. (Unsolicited Ratings)
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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