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Fitch stabilizes Bank of the Philippine Islands view
Fitch Ratings said it revised the outlook on Bank of the Philippine Islands to stable from negative and affirmed the BBB- long-term foreign- and local-currency issuer default ratings.
“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 a substantial increase in recent years,” the agency said in a press release.
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