Moody's Acquires Minority Stake in PhilRatings
Moody's Corp. has agreed to purchase a minority equity position in Philippine Rating Services Corp. The transaction remains the first entry by a global credit agency into a local Philippine rating firm.
Moody's Corp. has agreed to buy a minority stake in Philippine Rating Services Corp. The deal is the first investment by a global credit rating agency in a Philippine ratings firm. Terms of the transaction were not disclosed.
Moody's cites over $100 billion in planned Philippine infrastructure investments over the next three years. This figure indicates the financing potential driving demand for domestic credit ratings. The investment expands Moody's network of domestic affiliates in the Asia-Pacific region.
Operational Independence Remains Intact
PhilRatings will continue to operate under its existing management and governance structure. The firm retains full control over its credit-rating processes. This arrangement ensures that local operational decisions remain separate from global ownership structures.
Regional Debt Market Data
Outstanding domestic corporate bonds in Southeast Asia are more than twice the value of cross-border holdings. This data comes from Moody's regional analysis. It underscores the critical role of local debt markets in raising capital across the region.
Strategic Benefits for Local Investors
Wendy Cheong, managing director of Asia Pacific at Moody's Ratings, stated that strong domestic debt markets support sustainable economic growth. She noted that PhilRatings' market knowledge complements Moody's global credit views. This combination aims to provide greater transparency for domestic investors.
Angelica Viloria, President of PhilRatings, said the partnership reinforces commitment to credibility. She noted that Moody's technical support and industry practices will strengthen local credit work. The report on this deal was sourced from GN auto markets/bonds: debt markets coverage.
