Corporate debts in the Philippines are high but banks can handle if it escalates to any conglomerate fallout, International credit ratings agency Moody’s Investors Service said.

In its Sector In-Depth report titled “Banks — Asia-Pacific: Risks from leveraged corporates grow as macroeconomic conditions worsen” released on Monday, the debt watcher noted high levels of corporate leverage across Asia-Pacific, which were boosted by a prolonged period of low interest rates.