S&P upgrades Security Bank outlook to positive

DEBT watcher Standard & Poor’s (S&P) has revised the long-term issuer credit rating outlook on Security Bank Corp. (SBC) to positive from stable following the Philippine bank’s strategic partnership with Japan’s biggest bank.

“At the same time, we affirmed our ‘BB+’ long-term and ‘B’ short-term issuer credit ratings and ‘axBBB+’ long-term and ‘axA-2’ short-term Asean [Association of Southeast Asian Nations] regional scale ratings on the Philippines-based bank,” S&P said in a statement.