Moody’s Investors Service upgraded the deposit ratings of the four biggest banks in the Philippines after it raised the country’s sovereign debt rating by a notch to Baa2.
The ratings agency said in a statement it has upgraded the deposit ratings of BDO Unibank Inc (BDO), Bank of the Philippine Islands (BPI), Land Bank of the Philippines (LBP), and Metropolitan Bank & Trust Company (MBT) to Baa2/Prime-2, one notch higher than their previous aa3/Prime-3, with a stable outlook.
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