MANILA – Moody’s Investors Service yesterday upgraded the foreign currency deposit ratings of four banks in the Philippines.
Moody's gave the Banco de Oro Unibank, Bank of the Philippine Islands, Metropolitan Bank & Trust Company and Land Bank of the Philippines a “Ba1” rating with the outlook “stable.”
This came after Moody's upgrades the Philippine ratings to a notch below investment grade.
Canon Marketing Philippines recently held a Canon Photo Marathon in Bacolod City where about 200 amateur and professional photographers and Canon users from Dumaguete, Cebu, Bohol, Tagbilaran, Ormoc and Manila, participated.
Ryan Esguerra, head of operations Visayas Region, said Canon’s presence is felt all over the world and that in Asia, the Philippines is one of the promising places for photography as Filipinos love to take pictures.
They have, therefore launched a campaign of making the Philippines a “Canon image nation," he said.
BSP vows continued reforms
MANILA – The central bank vowed to continue reforms in the financial system to achieve an investment grade rating for the Philippines after Moody’s upgraded the country’s credit rating to a notch below investment grade yesterday, a government press release said.
We will just continue to maintain macro stability and continue our reforms in the financial system to make sure it remains sound and stable, Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr. said.
He said an investment grade rating for the country is “possible” in the short term.