Moody’s upgrades BPC

The BPC is one of a handful of local entities that subscribe to international credit ratings, which determine their cost of borrowings. In a statement, Moody’s researchers said the upgrade to stable was reflective of the fact that the Corporation’s ratings are strongly influenced by its shareholder, government. Moody’s recently upgraded the country’s outlook to stable from negative, while dropping the sovereign credit ratings to Baa2 from Baa1.

The credit ratings agency said its decisions around the BPC reflected the expectation that the weaker credit quality of the government would not compromise its ability to continue providing financial support that underpins the BPC’s own credit quality.