Moody's has agreed to acquire a minority stake in Philippine Rating Services, known as PhilRatings, a domestic credit rating agency in the Philippines. The investment expands Moody's Asia-Pacific network of domestic rating agency affiliates. Wendy Cheong, Managing Director and Regional Head of Asia Pacific at Moody's Ratings, said strong domestic debt markets are essential to supporting sustainable economic growth, adding that PhilRatings has built deep insight into the local market and that its ratings serve as a strong complement to Moody's global views on credit for investors in the Philippines. Following Moody's investment, PhilRatings will continue to operate independently with its own management, governance, and credit rating processes.
Moodys CorporationMoody's acquires a minority stake in PhilRatings, expanding its Asia-Pacific affiliate network.
PhilRatings receives a minority investment from Moody's while continuing to operate independently.
