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Article: PHILIPPINES: MOODY'S UPGRADES RCBC'S BANK FINANCIAL STRENGTH RATING TO D-.

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IPR Strategic Business Information Database
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June 2, 2008
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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 reflects the progress achieved by RCBC in strengthening its balance sheet through raising fresh ...

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