Moody's boosts Philippines banks

Moody's Investors Service said it published the rating results for banks in Philippines as part of the application of its refined joint default analysis and updated bank financial strength rating methodologies.

The banks with ratings changes include:

Equitable-PCI Bank's bank financial strength rating has been changed to a D from a D-, foreign-currency deposit ratings remain unchanged at B1/not-prime and are constrained by the country ceiling. The foreign-currency senior debt and subordinated debt ratings have been changed to Ba2 from Ba3 and pierce the country ceiling. The outlook is stable.

Metropolitan Bank and Trust Co.'s bank financial strength rating remains unchanged at D, the foreign-currency deposit ratings are unchanged at B1/not-prime and are constrained by the country ceiling. The foreign-currency subordinated debt ratings have been changed to Ba2 from Ba3 and pierce the country ceiling. The foreign-currency preferred stock rating has been changed to Ba3 from B2. The outlook is stable.

UnionBank of the Philippines's bank financial strength rating remains unchanged at D, but the outlook has been changed to stable from negative. The foreign-currency deposit ratings remain unchanged at B1/not-prime and are constrained by the country ceiling. The foreign-currency senior debt ratings remain unchanged at Ba3 and are constrained by the country ceiling. The outlook is stable.

Banco de Oro Universal Bank's bank financial strength rating remains unchanged at D, the foreign-currency deposit ratings remain unchanged at B1/not-prime and are constrained by the country ceiling. The foreign-currency senior debt rating remains unchanged at Ba3 and is constrained by the country ceiling. The outlook is stable.

Philippine National Bank's bank financial strength rating remains unchanged at E, global local-currency deposit ratings remain unchanged at Ba2/not-prime. The foreign-currency deposit ratings remain unchanged at B1/not-prime and are constrained by the country ceiling. The local-currency subordinated debt ratings remain unchanged at Ba3. The outlook is stable.

Rizal Commercial Bank Corp.'s bank financial strength rating remains unchanged at E+ and the foreign-currency deposit ratings remain unchanged at B1/not-prime and are constrained by the country ceiling. The foreign-currency senior debt ratings remain unchanged at Ba3 and are constrained by the country ceiling. The foreign-currency preference shares remain unchanged at B3. The outlook is stable.

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