Moody’s upgrades four banks to investment status

Moody’s Investors Service also lifted four Philippine banks to investment grade status following its upgrade for the country.

“Moody’s Investors Service has upgraded the deposit ratings of four Philippine banks to ‘Baa3/Prime-3’ from ‘Ba1/Not Prime,’ which means they are now investment grade, following the rating upgrade of the Government of the Philippines’ debt ratings to ‘Baa3’ from ‘Ba1’,” the credit ratings agency said in a statement.