trending Market Intelligence /marketintelligence/en/news-insights/trending/YWBkbWDy8I9zgMV-dvR42g2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Fitch upgrades ratings of 4 Philippine banks

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good

Street Talk Episode 67 - Veteran investor tabs Mick Mulvaney to help with latest financial stock-focused fund

Street Talk Episode 65 - Deferral practices trap US bank portfolios in purgatory

Fitch upgrades ratings of 4 Philippine banks

Fitch Ratings upgraded the long-term issuer default ratingsof China BankingCorp., PhilippineNational Bank, RizalCommercial Banking Corp. and Security Bank Corp. to BB+ from BB on theback of the country's improving economy and banking regulations.

The rating agency also upgraded to "bb+" from"bb" the Philippine banks' viability ratings. At the same time, Fitchupgraded Philippine National Bank's national long-term rating to AA-(phl) fromA+(phl).

The outlooks on the ratings are stable.

Fitch said it expects the banks' asset quality and creditprofiles to benefit from continued economic improvement and proactiveregulatory oversight. Further, the banks are likely to maintain steady assetquality, adequate capital buffers and stable funding and liquidity as they growand potentially expand their market share.

Of the four banks, Security Bank is the one likely to changeits asset mix in the medium-term due to its partnership with Bank of Tokyo-Mitsubishi UFJ Ltd. Aggressive could weaken SecurityBank's asset quality, funding and capitalization if poorly managed, accordingto Fitch. The bank currently has a nonperforming loan ratio of 0.8% at the endof 2015, the lowest among the four banks.

Fitch also affirmed the four banks' support ratings at"3" and support rating floors at BB-. The national long-term ratingsof both Security Bank and China Banking were affirmed at AA-(phl), while theshort-term foreign-currency issuer default rating of Security Bank was affirmedat B.

Given the banks' moderate systemic importance, Fitch expectsreasonable probability of extraordinary government support for the lenders intimes of stress.

The rating agency does not expect another upgrade in thenear-term. However, it could downgrade the banks' ratings if their higher riskappetites result in significant asset quality deterioration and earningsvolatility. Excessive growth in riskier and more volatile sectors could alsoadd pressure on the banks' ratings.