Fitch Affirms Ratings of Two Philippine Government Banks

April 24, 2015 7:51 AM

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(The following statement was released by the rating agency) SINGAPORE/HONG KONG, April 24 (Fitch) Fitch Ratings has affirmed the ratings on government-owned Land Bank of the Philippines (LBP) and Development Bank of the Philippines (DBP).

Their Long-Term Issuer Default Ratings (IDR) and Support Rating Floors (SRFs) have been affirmed at 'BB+' and Viability Ratings at 'bb+'. At the same time, the agency has assigned Short-Term Foreign Currency IDRs of 'B' to the two banks. The Outlooks on both banks are Stable. A full list of rating a...

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