Fitch rates Development Bank of Philippines notes BBB

Fitch Ratings said it assigned an expected BBB rating to Development Bank of the Philippines’ proposed dollar-denominated senior unsecured notes.

“The senior unsecured instruments are rated at the same level as DBP’s long-term foreign-currency issuer default rating, in accordance with Fitch’s criteria,” the agency said in a press release.

Fitch noted the rating is linked to the Philippines’ sovereign because the bank’s issuer rating is underpinned by the expectation of extraordinary support from the government if needed.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.