PHILIPPINES: MOODY'S UPGRADES RCBC'S BANK FINANCIAL STRENGTH RATING TO D-. IPR Strategic Business Information Database | June 2, 2008 | COPYRIGHT 2008 Info-Prod (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information) Copyright

Moody's Investors Service has upgraded Rizal Commercial Banking Corporation's ("RCBC") bank financial strength rating (BFSR) to D- from E+. At the same time, Moody's has raised its foreign currency hybrid tier-1 debt ratings to B1 from B3. Moody's has also affirmed its foreign currency deposit rating of B1/Not-Prime and senior long-term debt rating of Ba3. The outlook on the bank's BFSR and foreign currency hybrid tier-1 debt ratings is stable, while that for its long-term foreign currency deposit and senior long-term debt ratings remains positive. "This rating action ...

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