Moody's could lift Psalm

Moody's Investors Service said it placed the Ba1 corporate family and senior unsecured bond ratings of Power Sector Assets & Liabilities Management Corp. (Psalm) on review for upgrade.

The action follows Moody's July 25 decision to place the Philippine government's Ba1 long-term foreign-currency and local-currency ratings on review for upgrade.

"PSALM's ratings are underpinned by its distinct policy role and its close integration with the government," Moody's vice president and senior analyst Mic Kang said in a news release.

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