BDO Unibank Inc’s (BDO – BUY) baseline credit assessment by Moody’s was raised one notch to investment grade (baa3). Moody’s cites BDO’s improved asset quality, robust liquidity and capital, and ability to withstand a cyclical downturn as among the reasons for the upgrade. This takes BDO at par with the ratings of Bank of the Philippine Islands and Metrobank.
Economy: Automatic fare collection PPP to be signed today.
The concession agreement for the automatic fare collection system (AFCS) which involves the construction of a unified ticketing system for the LRT and MRT shall be finalized and signed today. The AFCS project worth PHP1.7b will be awarded to the consortium which includes Ayala Corp (AC – BUY) and Metro Pacific Investments Corp (MPI – Under review).
-Maybank ATR
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