Fitch stabilizes Development Bank of the Philippines view

Fitch Ratings said it changed its outlook for Development Bank of the Philippines to stable from negative and affirmed its 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.

© 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.