Bank of t he Philippine Islands’ Ratings Affirmed , w ith a Stable Outlook
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Summary
Ref: PH00121 CRA00- 0 1 15 July 202 2
Bank of t he Philippine Islands’ Ratings Affirmed , w ith a Stable Outlook
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Ratin g (LT FCR) and Short-Term Foreign Currency R ating (ST FCR) of Bank of the Philippine Islands (BPI) at ‘BBB’ and ‘A3’, respectively. At the same time, CI Ratings has affirmed BPI’s Bank Standalone Rating (BSR) of ‘bbb-’, Core Financial Strength (CFS) rating of ‘bbb’ , and Extraordinary Support Level (ESL) of High. The Outlook for the LT FCR and BSR remains Stable.
The Bank’s LT FCR is set one notch above the BSR and is constrained by CI’s internal assessment of sovereign credit risk for the Philippines. The uplift reflects our assessment of the high likelihood of extraordinary support from the authorities in the event of financial distress. The ESL of…