Moody's Acquires Minority Stake in PhilRatings

Moody's Corporation agreed to acquire a minority stake in Philippine Rating Services Corporation, known as PhilRatings, a domestic credit rating agency based in Manila. This transaction represents the first time a global credit rating agency has invested in a domestic agency within the Philippines.

PhilRatings will continue to operate independently, maintaining its own management, governance, and credit rating processes. While the financial terms of the deal remain undisclosed, the investment aims to expand the Asia-Pacific network of Moody's and utilize the local market expertise of PhilRatings.

The investment occurs as the Philippines prepares for more than $100 billion in infrastructure spending over the next three years. Wendy Cheong, Managing Director and Regional Head of Asia Pacific at Moody's Ratings, noted that strong domestic debt markets are essential for supporting sustainable economic growth. Angelica B. Viloria, President of PhilRatings, stated that the support from Moody's will help strengthen the infrastructure of the credit market.