Fitch affirms Philippine banks

Fitch Ratings said it affirmed the ratings of some Philippine banks.

China Banking Corp.'s long-term foreign- and local-currency issuer default ratings are affirmed at BB and national long-term rating at AA-(phl) with stable outlook.

Metropolitan Bank and Trust Co.'s long-term foreign-currency issuer default rating is affirmed at BB and short-term foreign-currency issuer default rating at B with stable outlook.

Bank of the Philippine Islands' individual rating is affirmed at C and support rating at 3.

Banco De Oro Unibank, Inc.'s individual rating is affirmed at C/D and support rating at 3.

Philippine National Bank's individual rating is affirmed at D/E and support rating at 3.

Despite the more challenging operating environment ahead, the credit profile of the Philippine banks is expected to remain stable, Fitch said.

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