MANILA — US financial services firm Moody’s Corporation said it has agreed to acquire a minority stake in Philippine Rating Services Corporation (PhilRatings), making it the first global credit rating agency to invest in a domestic rating firm in the Philippines.
Financial terms of the transaction were not disclosed.
PhilRatings, which is headquartered in Manila, will continue to operate independently with its own management, governance, and credit rating processes following the investment.
The deal comes as the Philippines prepares for more than $100 billion in planned infrastructure investments over the next three years, underlining significant growth potential in the country's domestic bond market.
“Strong domestic debt markets are essential to supporting sustainable economic growth,” said Wendy Cheong, Managing Director and Regional Head of Asia Pacific, Moody’s Ratings. “PhilRatings has built deep insight into the local market, and its ratings serve as a strong complement to Moody’s global views on credit for investors in the Philippines.”
Angelica Viloria, President of PhilRatings, said the partnership would strengthen local market infrastructure.
“Moody’s Ratings’ global standards, best practices and technical support will help us advance our mission to strengthen the credit market infrastructure in the Philippines,” Viloria said. “Moody’s role as a minority stakeholder reinforces our commitment to trust, credibility, and best‑in‑class credit ratings and research for the Philippine market.”
The investment further expands Moody’s network of domestic rating agency affiliates across the Asia-Pacific region.