Moody’s Investors Service has affirmed BDO Unibank, Inc.’s deposit ratings and kept its outlook “stable.”
Moody’s expects the bank’s profitability to remain steady and its asset quality to improve as the Philippine economy rebounds.
It affirmed BDO’s Baa2/P-2 long-term and short-term local and foreign currency bank deposit ratings, Baa2 foreign currency senior unsecured rating, (P)Baa2/(P)P-2 foreign currency senior unsecured medium-term note and other short-term program ratings, and baa2 Baseline Credit Assessment and Adjusted BCA.
The debt watcher also affirmed the bank’s Baa1/P-2 long-term and short-term local and foreign currency counterparty risk ratings and Baa1(cr)/P-2(cr) long-term and short-term counterparty risk assessments.
The stable outlook means its ratings are likely to remain steady in the next 12-18 months.
Meanwhile, it expects BDO’s capital to remain stable over the next 12-18 months and for its profitability to be steady as well.
It also noted that BDO’s funding is a key credit strength, underpinned by its extensive deposit franchise as the largest Philippine bank by deposits.