Supported by strong financial results, Philippine Savings Bank
(PSBank) on Tuesday said it kept its PRS Aaa credit rating on P3 billion
worth of unsecured subordinated loans.
In a
disclosure to the Philippine Stock Exchange, the savings bank unit of
Metrobank said PRS Aaa is the highest rating assigned by Philippine
Rating Services Corp.
The PSBank notes will
mature in February 2022, with a call option in February 2017. PSBank is
the second largest Philippine thrift bank, with assets of P109.4 billion
as of end-September 2012.
"Obligations rated PRS Aaa are of the highest quality with minimal credit risk,” the disclosure read.
The rating reflects PSBank’s management, market franchise, deposit-generation ability, and asset quality.
PhilRatings noted its ratings are based on available information and projections at the time that the review was performed.
According to PhilRatings, it will monitor developments relating to
PSBank and may change the rating at any time depending on circumstances.
— VS, GMA News
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