Security Bank Corp. (SBC) said it has established a medium term note (MTN) program for an aggregate amount of up to $1 billion or its equivalent in other currencies to give it easier access to the international debt capital markets. Also on Thursday, Moody’s Investors Service said in a statement that it had assigned (P)Baa2 long-term and (P)Prime-2 short-term foreign currency senior unsecured ratings to Security Bank’s (Baa2 stable, baa3) MTN program. “Security Bank’s baa3 BCA is underpinned by the bank’s above-industry-average asset quality and strong capital buffers, boosted by a capital infusion from its new strategic partner, MUFG Bank, Ltd.,” Moody’s said. Security Bank reported common equity tier 1 ratio of 16.19 percent and total capital adequacy ratio of 18.46 percent for the second quarter of the year. Security Bank shares ended flat at P199.90 each on Thursday.

Source: Manila Times August 30, 2018 16:18 UTC