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Fitch lowers outlook of Philippine banks to negative

New York-based Fitch Ratings has lowered from stable to negative the outlook for several government and private-owned Philippine banks due to downside risks to the country’s medium-term growth prospects amid the COVID-19 pandemic......»»

Category: financeSource: philstar philstarJul 20th, 2021

Fitch s negative outlook sends Philippines shares into a tailspin

Philippine shares bucked a regional uptrend to close lower on Tuesday, as investors sold on Fitch Ratings’ announcement that raised the specter of a credit rating downgrade for the country......»»

Category: financeSource:  philstarRelated NewsJul 13th, 2021

EDITORIAL - From stable to negative

Eight years after getting its first investment grade credit rating and “stable” outlook, the Philippines received a downgrade to “negative” from Fitch Ratings......»»

Category: newsSource:  philstarRelated NewsJul 15th, 2021

More debt watchers may revise Philippine credit outlook

More debt watchers are expected to revise their economic outlook for the Philippines from stable to negative, paving the way for a possible downgrade of the country’s credit rating before the end of the year......»»

Category: financeSource:  philstarRelated NewsJul 14th, 2021

Banks face revenue headwinds, higher NPLs

Philippine banks are facing revenue headwinds and higher non-performing loan ratios on the back of sluggish economic recovery from the pandemic-induced recession, according to New York-based Fitch Ratings......»»

Category: financeSource:  philstarRelated NewsJul 14th, 2021

Fitch revises PH credit rating outlook to negative

Fitch Ratings revised the outlook on the Philippines' 'BBB' credit rating to 'negative' from 'stable' to reflect the increasing risks to the credit profile from the impact of the pandemic and its aftermath on policy-making as well as on economic and fiscal out-turns......»»

Category: financeSource:  thestandardRelated NewsJul 13th, 2021

Fitch revises Philippines outlook to negative

New York-based Fitch Ratings has lowered its outlook for the Philippines to negative from stable as it expects a slower recovery for the country from the pandemic-induced recession with a gross domestic product growth of five percent instead of 6.3 percent this year......»»

Category: newsSource:  philstarRelated NewsJul 13th, 2021

Fitch keeps ratings of 5 PH banks

Debt watcher Fitch Ratings maintained the credit ratings of five Philippine banks, but warned that these lenders face a challenging operating environment. In a statement on Tuesday, the debt watchdog announced that it affirmed the “BBB” long-term issuer default ratings of BDO Unibank Inc., Bank of the Philippine Islands, Metropolitan Bank and Trust Co., as […].....»»

Category: newsSource:  manilatimes_netRelated NewsOct 15th, 2020

Large banks under negative watch on pandemic financial strain

Two of the biggest credit raters have lowered their outlook on the ratings of several local banks, indicating a potential downgrade soon......»»

Category: financeSource:  philstarRelated NewsOct 13th, 2020

Big loan books keep Philippine banks on their toes amid pandemic

Fitch Ratings now believes the sterling loan books of domestic banks are up for a “test” from a coronavirus pandemic that has damaged borrowers’ ability to settle their debts......»»

Category: financeSource:  philstarRelated NewsSep 30th, 2020

Banks extend relief to borrowers

Philippine banks continued to provide financial relief to borrowers severely affected by the pandemic and at the same time ensured continued access to essential financial services amid the lockdowns, according to the Bangko Sentral ng PIlipinas......»»

Category: financeSource:  philstarRelated NewsAug 22nd, 2021

S& P lowers growth outlook on Philippines as lockdowns stunt rebound

Debt watcher S&P Global Ratings downgraded its growth outlook on the Philippines, as new lockdowns and the highly contagious Delta variant bring a new threat to the economy......»»

Category: financeSource:  philstarRelated NewsAug 19th, 2021

Fitch sees new COVID-19 variants affecting profitability of banks

Banking operations in the Philippines face renewed challenges as the country continues to struggle to contain the pandemic with the emergence of new and more contagious variants, New York-based Fitch Ratings said......»»

Category: financeSource:  philstarRelated NewsAug 18th, 2021

Bleak outlook seen for Philippines upstream sector

The decline of the Malampaya deep water to gas power project as well as underinvestment in exploration is creating a bleak outlook for the country’s upstream industry, according to Fitch Solutions Country Risk & Industry Research......»»

Category: financeSource:  philstarRelated NewsAug 18th, 2021

‘New variants, slow jab pace burdening healthcare system’

The difficulties in containing the COVID-19 pandemic with the emergence of more contagious variants and the slow pace of vaccinations may overwhelm the Philippine healthcare system, according to Fitch Solutions Country Risk & Industry Research......»»

Category: financeSource:  philstarRelated NewsAug 17th, 2021

Asset quality deterioration of Philippine banks has not yet peaked – IMF

Multilateral lender International Monetary Fund said the asset quality deterioration of Philippine banks has not yet peaked as the country continues to grapple with the pandemic......»»

Category: financeSource:  philstarRelated NewsAug 15th, 2021

Oxford Economics slashes Philippine growth outlook to 4.5%

London-based Oxford Economics has turned less optimistic on the Philippines’ growth prospects after it slashed its forecast to 4.5 percent this year, among the lowest projections for the country......»»

Category: financeSource:  philstarRelated NewsAug 15th, 2021

Fitch downgrades Phl GDP outlook

Despite the double-digit economic expansion recorded in the second quarter of the year, Fitch Solutions made a downward adjustment in its outlook for the Philippines’ gross domestic product (GDP) for the full year 2021. “We have revised down our outlook for Philippines’ real GDP growth in 2021, from 5.3 percent to 4.2 percent, given the […] The post Fitch downgrades Phl GDP outlook appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsAug 11th, 2021

Banks offer restructuring amid lockdown

With the absence of new laws offering debt payment holidays, Philippine banks are ready to talk to borrowers severely affected by the COVID-19 pandemic as the National Capital Region and nearby provinces have been placed under hard lockdown due to the more contagious Delta variant......»»

Category: financeSource:  philstarRelated NewsAug 10th, 2021

Malayan Insurance maintains stable rating despite pandemic

Malayan Insurance Co., Inc. remains ahead in the non-life insurance industry as global insurance ratings company A.M. Best improved Malayan’s long-term issuer credit rating (Long-term ICR) outlook to ‘stable,’ reflecting the insurer’s strength and reliability in the Philippine market despite the worldwide pandemic and its effects on the country’s economy......»»

Category: financeSource:  philstarRelated NewsAug 4th, 2021

Bank lending shrinks for 7th straight month

Loan disbursements by big banks shrank for the seventh straight month, although at a slower pace of two percent in June from four percent in May, as the spread of the COVID-19 Delta variant continued to temper outlook for economic recovery......»»

Category: newsSource:  philstarRelated NewsJul 30th, 2021