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Article: SINGAPORE: MOODY'S AFFIRMS RCBC'S RATINGS ON PLANS TO ISSUE PREFERENCE SHARES.
- Article from:
- IPR Strategic Business Information Database
- Article date:
- October 24, 2005
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Moody's Investors Service has affirmed the ratings of Rizal Commercial Banking Corp.'s (RCBC) E+ bank financial strength rating (BFSR) and B1 senior unsecured debt and B1/NP long-term short-term deposit ratings. The outlooks for the BFSR and short-term deposit rating are stable. The outlooks for its senior unsecured debt and long-term deposit ratings are negative, and in line with the negative outlook of the Philippines' sovereign ratings. The rating action was in response to management's intention to issue P1 billion (USD17.8 million) in preference shares before the close of 2005. The capital infusion is pending regulatory and shareholder approvals. Moody's says that ...