Moody’s affirms BDO, Metrobank credit ratings

Investment grade ratings for two banks affected by a Subic-based shipbuilder’s bankruptcy — potentially the biggest default in Philippine corporate history — have been affirmed by Moody’s Investors Service.

BDO Unibank, Inc. and Metropolitan Bank & Trust Co. (Metrobank) continue to be rated “Baa2” with a stable outlook and Moody’s also said there was a “very high probability” that the government would extend support to the banks if needed.