Moody’s upgrades PNB’s local currency deposit rating to Ba1
Approximately P8.4 billion ($200 million) of rated debt affected.
Moody’s Investors Service has upgraded Philippine National Bank’s (”PNB”) E bank financial strength rating (BFSR) to E+. At the same time, the bank’s local-currency deposit and subordinated debt ratings have been raised to Ba1/Not-Prime and Ba2 respectively.
Moody’s has also affirmed the bank’s foreign currency deposit rating of B1/Not-Prime.
– www.theasianbanker.com (May 15 2008)–