Moody’s takes stake in Philippine Ratings

• Moody’s agreed to acquire a minority stake in Philippine Rating Services Corporation (PhilRatings).
• The transaction terms were not disclosed, and PhilRatings will continue operating independently.
• The investment expands Moody’s network of domestic rating agency affiliates in Asia-Pacific.

Moody’s Corporation (NYSE:MCO) agreed to acquire a minority stake in Philippine Rating Services Corporation (PhilRatings), a domestic credit rating agency supporting the development of the Philippine debt capital markets.

The investment comes as the Philippines continues developing its domestic bond market, with Moody’s noting that ASEAN domestic corporate bonds outstanding are more than twice the size of cross-border holdings.

“Strong domestic debt markets are essential to supporting sustainable economic growth,” said Moody’s Ratings Managing Director and Regional Head of Asia Pacific Wendy Cheong.

Moody’s said the transaction will allow PhilRatings to continue operating independently with its own management, governance, and credit rating processes, while transaction terms were not disclosed.

Moody’s said the investment will expand its Asia-Pacific network of domestic rating agency affiliates and provide support for credit market infrastructure development in the Philippines.

PhilRatings is headquartered in Manila and provides domestic credit ratings that support issuers and investors within the Philippine financial market.

The investment follows Moody’s broader expansion of its global ratings network, with the company providing credit assessments, research, and risk analysis across international markets.