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STANDARD & Poor's (S&P) Ratings Services hiked the credit outlook of the Philippine National Bank (PNB) from "stable" to "positive" in March, citing the gradual improvement in its asset quality following its merger with Allied Bank. The positive outlook reflects expectations the lender's asset quality could keep improving, given the efforts to better its underwriting standard.
In addition, Moody's Investors Service also raised PNB's credit-rating outlook from "stable" to "positive" just this month.
Moody's also affirmed PNB's Ba2/NP local and foreign currency deposit ratings that reflects ongoing improvements in the credit profile of the lender. Likewise, the ratings agency raised PNB's financial strength rating (BFSR)/baseline credit...