Moody's Corporation has acquired PhilRatings for an undisclosed amount. PhilRatings stands as the pioneer domestic credit rating agency in the Philippines, having assigned credit ratings since 1985. It provides independent, third-party evaluations of credit quality for a wide array of financial instruments, including bonds, commercial papers, bank loans, and various financial institutions, corporations, and project finance transactions. PhilRatings is notably the first and only domestic Credit Rating Agency recognized by the Bangko Sentral ng Pilipinas (BSP) for bank supervisory purposes and is also accredited by the Securities and Exchange Commission (SEC).
This acquisition significantly expands Moody's footprint and offerings within the dynamic Philippine capital market. PhilRatings contributes its extensive local market expertise, a proven track record spanning decades, and deep-rooted relationships across the Philippine financial sector. Its recognition by critical regulatory bodies like the BSP and SEC, alongside its use by the Philippine Dealing and Exchange Corporation (PDEx) and the Insurance Commission, highlights its established credibility and essential role in the local financial ecosystem.
The integration of PhilRatings' specialized local insights, established rating methodologies, and experienced analyst pool with Moody's global analytical capabilities and extensive resources is expected to enhance the scope and quality of credit risk assessment services available in the Philippines. This combination aims to provide more comprehensive and globally informed perspectives on local credit quality, supporting the continued development and transparency of the Philippine capital market.
The combined entity is well-positioned to meet the evolving demands for independent and reliable credit opinions in the region. This strategic move is anticipated to reinforce trust, foster greater stability, and contribute to the overall growth and sophistication of the Philippine financial landscape.