Fitch Ratings said Wednesday it upgraded the viability ratings (VR) of five Philippine banks, while affirming their issuer default ratings (IDR).
It said the VR for Bank of the Philippine Islands (BPI) was upgraded to ‘bbb-’ from ‘bb+’; while the IDR was affirmed at ‘BBB-’/stable.
BDO Unibank’s VR was also upgraded to ‘bbb-’ from ‘bb+’, with IDR affirmed at ‘BBB-’/stable.
The VR for Development Bank of the Philippines (DBP) was upgraded to ‘bb’ from ‘bb-’, with IDR affirmed at ‘BBB’/stable.
Land Bank of the Philippines’ (LBP) VR was upgraded to ‘bb+’ from ‘bb’, and its IDR was affirmed at ‘BBB’/stable.
Metropolitan Bank & Trust Company’s (Metrobank) VR was upgraded to ‘bbb-’ from ‘bb+’, and its IDR was affirmed at ‘BBB-’/stable.
Fitch also affirmed the government support ratings (GSR) of all five banks.
