Moody’s moves Rizal view to positive

Moody’s Investors Service said it revised its outlook for Rizal Commercial Banking Corp. to positive from stable and affirmed its senior unsecured rating at Baa3 as well as other ratings.

“The change in outlook to positive reflects RCBC's improved capital position after the PHP 27 billion capital infusion from Sumitomo Mitsui Banking Corp. (SMBC, A1 stable). In addition, Moody's expects that RCBC will maintain its capitalization, as denoted by tangible common equity/adjusted risk-weighted assets, at around 14% over the next 12 to 18 months, a level that is adequate and generally on par with its domestic rated peers'. The positive outlook also takes into account improvements in RCBC's asset quality,” the agency said in a press release.

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