Fitch Ratings - updates

Rappler's latest stories on Fitch Ratings


Fitch Ratings enters China's credit market

May 14, 2020 - 9:15 PM

The People's Bank of China says Fitch Bohua will be able to conduct ratings in China's interbank bond market, marking a further step in opening the industry

U.S., eurozone output to crash in Q2 2020 – Fitch

Apr 02, 2020 - 9:50 PM

Fitch Ratings says it does not see US and EU gross domestic product returning to pre-coronavirus levels until late 2021

SHOPS CLOSED. The sculpture 'Torso' by Robert Graham stands on iconic and nearly empty Rodeo Drive in Beverly Hills, California, on March 18, 2020. Photo by Mario Tama/Getty Images/AFP

Fitch downgrades UK debt to AA-, outlook negative

Mar 28, 2020 - 10:10 AM

Fitch Ratings estimates the British economy could contract by 4% in 2020

LOCKDOWN. A deserted Mall leading to Buckingham Palace is pictured in London on the morning on March 24, 2020 after Britain ordered a lockdown to slow the spread of the novel coronavirus. Photo by Daniel Leal-Olivas/AFP

Fitch maintains U.S. AAA rating despite coronavirus

Mar 27, 2020 - 10:30 AM

'The US sovereign rating is supported by structural strengths that include the size of the economy, high per capita income, and a dynamic business environment,' says Fitch Ratings

NEW YORK, NEW YORK - SEPTEMBER 03: An American Flag hangs from a building in the Financial District of Manhattan on September 03, 2019 in New York City. New manufacturing data released on Tuesday renewed concerns about a weakening global economy. Oil prices also fell on Tuesday as the continuing U.S.-China trade dispute continues to worry markets and investors about a global slowdown. Spencer Platt/Getty Images/AFP

Despite political risks, Fitch Ratings raises outlook for Philippines

Feb 11, 2020 - 9:00 PM

Fitch Ratings says the Duterte administration's review of allegedly onerous contracts may create some uncertainty, but will not affect the overall business environment and foreign investments

Fitch cuts Philippine economic growth forecasts for 2019, 2020

Apr 24, 2019 - 9:10 PM

Fitch Ratings says the delayed passage of the 2019 budget, aggressive interest rate hikes, and the US-China trade war will weigh on the Philippines' economic growth

Hanjin recovery 'uncertain' – Fitch Ratings

Jan 16, 2019 - 7:20 PM

Fitch Ratings says the rehabilitation plan for Hanjin Heavy Industries and Construction Philippines may take time to execute

DOUBTS. Fitch Ratings says Hanjin's recovery is uncertain. AFP photo

Fitch upgrades Philippines' credit rating

Dec 11, 2017 - 12:26 PM

(UPDATED) The upgrade from BBB- to BBB is due to strong economic growth and the tax reform initiative

Fitch upgrades PLDT outlook amid improved finances

Aug 31, 2017 - 9:20 PM

The telco s long term local currency issuer default rating LC IDR outlook is raised to stable from negative – a sign of improving financial performance

UPGRADED. The telecommunications giant’s long-term foreign currency issuer default ratings (LC IDR) outlook was raised to stable from negative, Fitch says. This signals continued improvement in its financial performance. Rappler file image

Fitch affirms PH investment grade rating at BBB-

Mar 30, 2017 - 2:10 PM

The rating comes with a positive outlook that indicates an upward trend for credit ratings over a one to two year period

Fitch keeps 'stable' outlook for PH banks in 2017

Dec 13, 2016 - 6:00 PM

Only the Philippines and Vietnam – where economic prospects are brighter – have stable sector outlooks the debt watcher says

WEATHER STORM. Fitch Ratings gives the Philippine banking system a stable 2017 outlook, with domestic demand to remain strong. Image from Shutterstock

Ties with China to fill infra spending gap, pose risk to PPP

Oct 20, 2016 - 8:31 PM

Increased Chinese involvement may have the dual effect of reducing the number of PPP projects in the pipeline and fulfilling plans for a Golden Age of Infrastructure in the Philippines says a research firm

WIN-WIN. BMI Research said sees 'clear incentives' for both countries: China sees befriending the Philippines as a way of reducing the United States' influence in Asia; while the Philippines seeks to gain access to China's generous infrastructure investment packages. Background photo from Wikimedia

P1B fine unlikely to weaken RCBC's financial profile - Fitch

Aug 09, 2016 - 8:45 PM

The P1 billion penalty is the largest ever imposed by the Bangko Sentral ng Pilipinas and is equivalent to about 20 of RCBC s 2015 net income

STABILITY. Fitch Ratings says RCBC will remain financially stable in the medium term despite the lender's involvement in the $81 million Bangladesh Bank heist

Poll results' impact on ratings not immediate – Fitch

May 10, 2016 - 7:45 PM

The agency does not expect the outcome of the Philippines election to have any immediate impact on the rating or outlook says Sagarika Chandra

Gov't unsatisfied with Fitch's PH credit rating

Apr 08, 2016 - 8:30 PM

The Philippines is still underrated as it outperforms its neighbors in Southeast Asia in terms of economic growth drivers Finance Secretary Cesar Purisima says

UNDERRATED. Financial markets believe the Philippines is much less of a credit risk compared with other countries enjoying higher credit ratings. Image from Shutterstock

Philippines gets credit rating upgrade from NICE

Jan 23, 2016 - 9:54 AM

With this latest credit rating action from NICE Fitch Ratings remains the only agency that assigns the minimum investment grade to the Philippines

UP A NOTCH. The upgrade anchors on improved government transparency and enhanced environment backed by expanded infrastructure

Telstra-San Miguel possible deal has limited impact on telco industry

Nov 20, 2015 - 6:38 PM

Ratings agency Fitch says the joint venture will experience large cash burn given the significant capital outlay and price competition to build a subscriber base

LIMITED IMPACT. With the possible partnership, San Miguel will benefit from Telstra's technology leadership and financial muscle, while Telstra could make the most of the local conglomerate's 700MHz spectrum-frequency.

PH less vulnerable to external shocks – Fitch

Oct 02, 2015 - 7:30 PM

The picture for emerging markets is not uniformly gloomy says Fitch

LESS EXPOSED, Fitch Asia-Pacific Sovereigns Head Andrew Colquhoun said the Philippines, India, and Vietnam are less exposed to the external risks that prompted the debt watcher to lower its global economic growth forecast to 2.3% this year. Photo from EPA

Fitch raises PH outlook to positive

Sep 24, 2015 - 10:24 PM

The Philippines is still underrated as it continues to outperform its single A rated neighbors in Southeast Asia Finance Secretary Cesar Purisima says

POSITIVE. The revised credit outlook and the likely credit rating upgrade from Fitch Ratings are a reflection of what financial markets say all along about the Philippines’ creditworthiness, Finance Secretary Cesar Purisima says.

Transparency, ratings agency warn on Malaysia graft 'crisis'

Sep 02, 2015 - 5:40 AM

Malaysia is facing a major corruption crisis graft watchdog Transparency International says as it calls for independent investigations

CORRUPTION CRISIS. Transparency International says Malaysia is facing a major corruption crisis, and the government of Prime Minister Najib Razak must conduct an independent investigation. File photo

Turkey PM forms election government including pro-Kurdish party

Aug 29, 2015 - 9:31 AM

The newly appointed cabinet will not have to undergo a vote of confidence in parliament as required in the constitution The president s approval is considered enough for interim governments

ELECTION GOVERNMENT. Turkish President Recep Tayyip Erdogan approves the makeup of the provisional government that will run the country until November 1 elections. File photo by Ilmars Znotins/AFP

PH banks can meet higher capital buffers – Fitch Ratings

Jul 08, 2015 - 5:36 PM

Overall Philippine bank capitalization is relatively robust as several lenders have already boosted their capital requirements

PH gets credit rating upgrade from Japan

Jul 06, 2015 - 6:32 PM

The latest upgrade from Japan Credit Rating Agency is the 22nd positive rating action for the country from international credit rating agencies like S P Moody’s and Fitch

Globe Telecom forms company for 'new, strategic' businesses

Jun 16, 2015 - 5:08 PM

The creation of a holding company aims to provide more focus on developing and growing new businesses Globe says

NEW COMPANY. Globe's new holding company will house its new and strategic businesses

PLDT opens 2015 with flat net profit, organizational shakeup

May 05, 2015 - 6:23 PM

UPDATED The Philippines second most valuable listed company says it is on track in meeting its P35 billion core net profit guidance for 2015 with its first quarter performance slightly ahead of expectations

PLDT announces major changes in management as it undergoes a transition phase wherein growth of new businesses continues to outpace performance of legacy segment. File photo by Rappler

Fitch affirms Philippines' 'BBB-' rating

Mar 18, 2015 - 12:13 PM

The country s BBB rating is one notch below the rating assigned to the Philippines by Moody’s Investors Service and Standard Poor’s

PH deserves a Fitch upgrade – DTI chief

Feb 04, 2015 - 2:51 PM

Trade Secretary Gregory Domingo says the Philippines deserves a Fitch rating upgrade 3 notches higher to investment grade citing stable growth and investor confidence in the country

Higher capex, lower profit for PLDT, Globe in 2015 – Fitch

Nov 11, 2014 - 6:12 PM

The telecommunication rivals are seen to invest heavily in their fiber networks expansion and cope with fast growing demand for data services says Fitch Ratings

Palace cites ‘renewed optimism’ on PH business prospects

Sep 03, 2014 - 11:36 AM

Malacañang says the investment grade status obtained by the Philippines from South Korean NICE Ratings is the Philippines 18th positive rating action under the Aquino administration

Malaysian CIMB mega bank merger comes with 'risks' – Fitch

Jul 14, 2014 - 2:29 PM

The proposed merger of CIMB RHB and Malaysia Building Society MBSB is ambitious and will bring inherent challenges and risks for the new banking group amid a complex integration process

LOFTY GOALS. A general view of the CIMB Group Bhd (CIMB) Bank building in Kuala Lumpur, Malaysia, on 09 June 2011. Ahmad Yusni/EPA

Fitch affirms US rating at 'AAA', hikes outlook

Mar 21, 2014 - 4:26 PM

Fitch raises its outlook for the world s largest economy to stable in part because of the way the US federal debt limit was suspended in February

A view of the White House in Washington, DC. AFP PHOTO/Brendan SMIALOWSKI

Philippines vs Indonesia: Which is 'better'?

May 07, 2013 - 6:14 AM

Asia s two rising economic stars go head to head

Which is winning the battle between the two rising economic stars?

More FDIs 6 months after credit upgrades

May 03, 2013 - 5:22 PM

Trade Secretary Gregory Domingo says the investment grade rating from Fitch will translate into job generating investments later this 2013 while S P s will be in 2014

BULLISH. Trade Secretary Domingo expects more job-generating investment inflows in the coming months as the country reaps the rewards of the credit rating upgrade from debt watchers Fitch and S&P. Photo by Aya Lowe

'Investment grade may push peso to undesirable levels'

May 01, 2013 - 5:55 PM

A study projects the peso to increase by 4 to 5 against the US dollar in 2013 on the back of strong capital inflows

ARRESTED APPRECIATION. Authorities may "carry out strong measures" to stall the appreciation of the peso. Photo by AFP

PH manufacturing industry on the mend

Apr 24, 2013 - 8:31 AM

The Philippines manufacturing industry is seeing a resurgence from foreign companies after winning its first investment grade from Fitch

Manufacturing industry on the rise following Philippines first investment grade

Hot money swings to net outflow in March

Apr 11, 2013 - 7:30 PM

Outflows are due to profit taking in Philippine stocks

DOLLAR RESERVES. A bank teller shows off dollar bills. Photo from AFP

Napocor wins investment grade from Fitch

Apr 03, 2013 - 4:56 PM

Fitch ups Napocor credit rating to BBB similar to the investment grade rating of the Philippines

Image obtained from Napocor's 2011 Annual report

PH expects another investment grade in 2013

Apr 03, 2013 - 4:31 PM

The central bank is aiming for another credit rating upgrade from either Moody s or Standards Poor s

ONE MORE TIME. The BSP is eyeing another investment grade rating for the country in 2013.

PH remains underrated - Purisima

Apr 01, 2013 - 4:18 PM

The recently granted investment grade status is great but this still does not reflect how foreign investors view the country as an investment destination

'Dr Doom' lauds PH credit upgrade

Apr 01, 2013 - 1:53 PM

Renowned economist Nouriel Roubini s prediction that the Philippines would achieve investment grade within the year has come true

IT CAME TRUE. Renowned economist Nouriel Roubini had told an SRO crowd of investors, bankers, corporate chiefs in a January 30 summit in Manila that the Philippines deserves an investment grade. Photo by Lala Rimando

Rappler Newscast | March 28, 2013

Mar 28, 2013 - 10:04 PM

US drops a dummy ordnance on South Korea Largest cyber attack slows Internet

Fitch rates PLDT above investment grade

Mar 28, 2013 - 6:22 PM

PLDT s above investment grade rating is a first in Philippine corporate history

MARKET LEADER. A man checks his mobile phone as he passes the headquarters of the Philippine Long Distance Telephone Co. at the Makati central business district. AFP Photo

Rappler Newscast | March 27, 2013

Mar 27, 2013 - 8:53 PM

PH gets investment grade rating USS guardian out of Tubbataha by April 1 North Korea cuts military hotline to South Korea

Each Filipino owes over P57,000 as PH debt climbs to P5.4-T

Jan 22, 2013 - 7:17 PM

The Philippines outstanding debt climbs 9 1 to P5 381 trillion as of end November 2012 from the year before

Credit rating of Sharp cut to junk; Panasonic downgraded too

Nov 02, 2012 - 5:40 PM

The 6 notch cut in Sharp s rating was in response to its 5 6 B annual loss forecast Panasonic s downgrade was also due to its loss projection this year

Fitch downgrades India's outlook to negative

Jun 18, 2012 - 7:59 PM

Fitch Ratings downgraded India s credit outlook from stable to negative on Monday June 18 saying that the country s growth potential will deteriorate without a quickening of structural reforms