Moody's to Take Minority Stake in Philippine Rating Services Corporation

M&A · Partnership
โดย Business Wire·PH·Read original
Summary · why it matters

Moody's Corporation has agreed to acquire a minority stake in Philippine Rating Services Corporation, or PhilRatings, a leading domestic credit rating agency headquartered in Manila. The terms of the transaction were not disclosed. Moody's Ratings becomes the first global credit rating agency to invest in a domestic credit rating agency in the Philippines, expanding its Asia-Pacific network of domestic rating agency affiliates. Following the investment, PhilRatings will continue to operate independently with its own management, governance and credit rating processes. Wendy Cheong, Managing Director and Regional Head of Asia Pacific at Moody's Ratings, said PhilRatings has built deep insight into the local market and its ratings complement Moody's global credit views for investors in the Philippines, while PhilRatings President Angelica B. Viloria said Moody's global standards and technical support will help advance its mission to strengthen the country's credit market infrastructure. The companies noted that domestic corporate bonds outstanding in the ASEAN region are more than twice the size of cross-border holdings, and that more than US$100 billion of planned infrastructure investment in the Philippines over the next three years highlights the market's potential.

Impact on stocks 2

Cloud & Digital Infrastructure▲ · 1 stocks
Moodys Corporation
MCO
▲ PositiveCapitalrelevance

Moody's agrees to acquire a minority stake in PhilRatings, expanding its Asia-Pacific affiliate network.

Financials▲ · 1 stocks

Off-coverage companies 1

Philippine Rating Services Corporation (PhilRatings)Private▲ Positive
Capitalrelevance

PhilRatings receives a minority investment from Moody's, gaining global standards and technical support.

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