DBP President and Chief Executive Officer Emmanuel G. Herbosa
CALOOCAN CITY, May 12 (PIA) -- State-owned Development Bank of the Philippines (DBP) is working closely with the Department of Finance (DoF), state regulators and multi-lateral lending institutions in establishing a Local Government Unit (LGU) credit rating system that seeks to mainstream bond flotations as a sustainable financing option for local development projects, a top official said.
DBP President and Chief Executive Officer Emmanuel G. Herbosa said the proposed rating system would provide the bond market with credible risk indicators of individual LGU bonds as well as information on outstanding bond issues which would help buoy confidence and improve risk-appetite of potential investors.