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Fitch upgrades lenders’ ratings

FITCH RATINGS raised its scores for government-owned Land Bank of the Philippines (Landbank) and Development Bank of the Philippines (DBP) to investment grade following its move to upgrade the sovereign’s rating earlier this week. The long-term issuer default ratings (IDRs) of Landbank and DBP were upgraded by a notch to “BBB-,” the minimum investment grade […] The post Fitch upgrades lenders’ ratings appeared first on BusinessWorld......»»

Category: newsSource: bworldonline bworldonlineDec 14th, 2017

Fitch upgrades ratings of Landbank, DBP

Fitch Ratings on Friday revised upwards the long-term issuer default ratings (IDRs) of state-owned Land Bank of the Philippines (Landbank) and Development Bank of the Philippines (DBP) to ‘BBB’ from ‘BBB-“ with Stable outlook following the same upgrade of the domestic economy’s rating last December......»»

Category: newsSource:  interaksyonRelated NewsJan 28th, 2018

Letters From Davao by Jun Ledesma

‘It was a good year’ We have seen the litany of achievements of Duterte administration. It dwarfed the entire six years of the Aquino regime. It could have done better except that it has to first fix a lot of damages wrought by an inept regime that has likewise institutionalized corruption and abetted crime the most horrific of it all – the drug syndicates.  Space or brevity must have limited some significant achievements of the  Department of Finance and am referring to the upgrades of credit ratings of the Philippines from investment grade to investment grade and stable. While early on Standard & Poor’s claimed that President Duterte’s war on drugs and alleged extra-judicial killings are factors that account for the static rating by December 2017 it grudgingly acceded that something good is happening in the Philippines under Duterte’s watch.  Finance Sec. Sonny Dominguez and his team deserves the credit. Fitch and Moody’s in their “investment grade and stable” rating in December enunciated that the issues surrounding drugs and EJK have nothing to do with the rosy economy of the country and its image as capital investment destination. The country’s economic performance for one is top in Asia and there is no turning back with the expected massive spending on infrastructures and government services starting 2018 and beyond.  The Duterte government achievements scoreboard makes the moribund opposition drooling. Still on Finance, expect the billionaires who are also the country’s tax dodgers to cough up. TRAIN or the Tax Reform for Acceleration and Inclusion gives a huge relief to 99 percent of those small taxpayers saving the ar least P50,000.00 in tax cut!  But demands and exacts the reasonable taxes from the rich especially the filthy rich. Last year sampling of Lucio Tan (P6-billion), Mighty Cigarettes (P40-billion) and the Prieto and Rufinos’ one-mile asset that they are accountable to the government in still unquantifiable amount as yet? There is a subliminal message to be absorbed why candidate Rodrigo R. Duterte refused to accept donations from the rich and famous: just pay your taxes correctly and you’re okay.  The Bureau of Internal Revenue and the Bureau of Customs are churning more collections under a continuing reforms.  President Duterte himself did dramatic and radical transformations in the area of Foreign Affairs and security. He was chided and lectured on by self proclaimed experts in diplomacy and security alliances especially with the generous expletives he is famous for. But as he admitted to the point of being apologetic, he told media men in this year’s Christmas party, “but that is me”.  Duterte’s foray into foreign affairs and diplomacy might be severely lacking in refinements but he put across his message clearly and direct and one cannot quarrel with what he achieved in such a brief moment. He virtually altered the outlook of the western countries on small sovereign nations. He overhauled alliances by an unwritten rule of mutual respect and cognizance of sovereignty. While Aquino made enemies with China which is the world’s second largest economy resulting in unquantifiable losses of opportunities Duterte reversed that with the resumption of trade, financial assistance with cheap money interest, massive infrastructure projects that will come into fruition by 2018. World leaders to include Xi Jinping of China, Vladimir Putin of Russia, PM Shinzo Abe of Japan and, to the dismay of the so-called Yellowtards, US Pres. Donald Trump who became his virtual phone pal.  The Department of Agriculture under Sec. Manny Pinol, did exemplary well. Productivity is better than expected and could have performed better if not for the natural calamities that the country has to contend with. Maybe the Bureau of Fisheries under it may try something out of the box. Propose to China to convert that disputed island into a one big marine laboratory. China provides the infrastructures while the Philippines the technical aquatic expertise. Make a 10-mile no-fishing marine haven around the island and guarded by the joint coastguard forces of China, Philippines and Vietnam. The Philippine Coconut Authority under Cabinet Sec. Jun Evasco is about to embark on a massive replanting program.  The Aquino government allocated billions of pesos to fight ‘cocolisap’ infestation but applied the wrong solution. Well, what do we expect from a certain Kiko Pangilinan? The replanting program was a big failure on account of  massive graft in high and low places. Replanting as well as new areas had been programmed by PCA.  Finally we have to give accolade to our Armed Forces of the Philippines and the Philippine National Police for combating internal threats, terrorism and syndicated crime. The AFP and PNP are more prepared and better equipped now than any other time in history. Furthermore we see a disciplined forces in the AFP and while there are a few remaining scalawags in the PNP the cleansing process is done without let-up. We from Mindanao are comfortable and secured with their presence even under the aegis of martial law. If you do not believe me look at the various surveys on the popularity and trust of Filipinos on President Duterte and his government.  This will end my perspectives for year 2017 and we look forward to 2018 the Build, Build, Build era. The beginning of the new Philippines. Mindanao and Davao City, from where I live and write, may have suffered from natural calamities but we had seen, suffered and endured worse scenarios and even man made tragedies than […].....»»

Category: newsSource:  mindanaoexaminerRelated NewsDec 29th, 2017

Fitch upgrades lenders’ ratings

FITCH RATINGS raised its scores for government-owned Land Bank of the Philippines (Landbank) and Development Bank of the Philippines (DBP) to investment grade following its move to upgrade the sovereign’s rating earlier this week. The long-term issuer default ratings (IDRs) of Landbank and DBP were upgraded by a notch to “BBB-,” the minimum investment grade […] The post Fitch upgrades lenders’ ratings appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsDec 14th, 2017

Fitch upgrades PH credit rating to BBB; fiscal policies support strong, sustained growth

On the back of sound macroeconomic fundamentals, prudent economic policies, and sustained economic growth, Fitch Ratings upgraded on December 11, 2017 the Philippines’ long-term credit rating from “BBB-” to “BBB” with a stable outlook......»»

Category: newsSource:  interaksyonRelated NewsDec 11th, 2017

Fitch upgrades Philippines credit rating

MANILA, Philippines – Credit rating agency Fitch Ratings upgraded the Philippines' Long-Term Foreign-Currency Issuer Default Rating (IDR) from BBB-  to BBB, with a stable outlook, amid favorable economic conditions and planned tax reform. Fitch noted that "strong and consistent macroeconomic performance has continued, underpinned by sound policies that are ........»»

Category: newsSource:  rapplerRelated NewsDec 11th, 2017

Banks in the Philippines to remain resilient — Fitch Ratings outlook

FITCH RATINGS has given a “stable” outlook for Philippine banks for 2018, with lenders expected to remain on solid footing as they receive a boost from a rapidly growing economy that will support brisk lending activity. “Fitch has stable rating outlooks on all privately owned rated banks in the Philippines. This reflects our view that […] The post Banks in the Philippines to remain resilient — Fitch Ratings outlook appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsNov 30th, 2017

Finance: Economic strength to boost banks' credit scores

SUSTAINED ECONOMIC growth as well as the robust performance of banks could upgrade the credit scores of Philippine lenders, an official from Fitch Ratings said, with the rising interest rate environment having no effect on the debt watcher's outlook for the banks......»»

Category: financeSource:  bworldonlineRelated NewsJun 6th, 2017

Finance: PHL banks likely to post double-digit loan growth

PHILIPPINE BANKS are likely to see double-digit increases in total loans over the next two years, with the rising share of consumer credit unlikely to be a cause of concern as the lenders remain well-armed against potential shocks, Fitch Ratings said in a report......»»

Category: financeSource:  bworldonlineRelated NewsFeb 28th, 2017

Fitch affirms ratings of 8 biggest lenders

MANILA, Philippines - International credit rater, Fitch Ratings has affirmed its grades and  outlook on eight of the country’s largest banks amid the sustain.....»»

Category: financeSource:  philstarRelated NewsFeb 9th, 2017

Fitch upgrades credit rating of 4 Philippine banks

MANILA, Philippines Fitch Ratings has upgraded the credit rating of four Philippine banks on the back of sustained economic growth and major reforms in the.....»»

Category: financeSource:  philstarRelated NewsJul 19th, 2016

Fitch upgrades ratings of 4 Philippine banks

Fitch Ratings yesterday said it has upgraded the Long-Term Issuer Default Ratings (IDRs) of four Philippine banks with all tagged as having stable outlooks......»»

Category: newsSource:  mb.com.phRelated NewsJul 19th, 2016

Fitch upgrades debt ratings of 4 PH banks

Fitch upgrades debt ratings of 4 PH banks.....»»

Category: financeSource:  thestandardRelated NewsJul 18th, 2016

Hanjin recovery uncertain – Fitch Ratings

MANILA, Philippines – The interest of Chinese firms in taking over Hanjin Heavy Industries and Construction Philippines and the court granting its request for corporate rehabilitation may not be enough to lift the embattled company, said debt watcher Fitch Ratings on Wednesday, January 16. Fitch Ratings said "recoverability ........»»

Category: newsSource:  rapplerRelated NewsJan 16th, 2019

Philippines to continue incurring CA deficit, says Fitch Ratings | Philstar.com

The country may experience wider current account deficits in the next two years due to strong capital goods imports and a sharp slowdown in exports, according to Fitch Ratings......»»

Category: newsSource:  philippinetimesRelated NewsJan 6th, 2019

Fitch sees stable banking sector despite rate hikes

The performance of the Philippine banking sector is expected to remain fairly steady despite some asset-quality pressure from higher domestic inflation and interest rates, Fitch Ratings said......»»

Category: financeSource:  philstarRelated NewsDec 31st, 2018

Philippines to continue incurring CA deficit, says Fitch Ratings

The country may experience wider current account deficits in the next two years due to strong capital goods imports and a sharp slowdown in exports, according to Fitch Ratings......»»

Category: financeSource:  philstarRelated NewsDec 26th, 2018

Current account deficit to top BSP target – Fitch

The Philippines’ current account deficit could exceed the Bangko Sentral ng Pilipinas’ (BSP) target this year, Fitch Ratings said. “The current account deficit is likely to have widened to around…READ The post Current account deficit to top BSP target – Fitch appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsDec 24th, 2018

Fitch affirms PH rating, flags overheating risks

Debt watcher Fitch Ratings on Thursday again affirmed the Philippines’ ‘BBB’ investment grade rating even as it warned that the economy continues to face overheating risks. “The ratings on the…READ The post Fitch affirms PH rating, flags overheating risks appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsDec 21st, 2018

Fitch affirms PH rating, flags overheating risks | The Manila Times Online

Debt watcher Fitch Ratings on Thursday again affirmed the Philippines BBB investment grade rating even as it warned that the economy continues to face overheating risks. The ratings on theREAD The pos.....»»

Category: newsSource:  manilanewsRelated NewsDec 21st, 2018

Fitch reaffirms Philippines investment grade, flags overheating risks

Fitch Ratings yesterday cautioned the Philippines about overheating risks, including strong credit growth and wider current account shortfall, as it reaffirmed the country’s investment grade credit rating......»»

Category: financeSource:  philstarRelated NewsDec 21st, 2018