DBP credit status upgraded to BBB+
Credit to Author: MAYVELIN U. CARABALLO, TMT| Date: Thu, 02 May 2019 04:39:12 +0000
S&P Global Ratings has raised the Development Bank of the Philippines’ (DBP) credit rating to “BBB+,” reflecting its recent upgrade of the country’s investment grade status.
In a statement on Thursday, the debt watcher said the upgrade reflected its view that there was an almost certain likelihood that the government would provide timely and sufficient extraordinary support to the bank if needed.
“Therefore, the issuer credit ratings on DBP are equalized with the sovereign credit rating on the
Philippines,” it added.
DBP’s latest rating has been assigned a stable outlook, which will move in tandem with the sovereign credit ratings on the Philippines.
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