Moody's assigns Baa2 to UnionBank's USD note drawdown
Rating Action: Moody's assigns Baa2 to UnionBank's USD note drawdown. Global Credit Research- 21 Nov 2017. Singapore, November 21, 2017-- Moody's Investors Service has assigned a Baa2 rating to the proposed USD-denominated senior unsecured notes of Union Bank of the Philippines and to be issued under its USD1 billion medium term note program.UnionBank of the Philippines is engaged in providing a range of financial and related products and services. Co.'s core businesses are retail banking, consumer finance, corporate banking, commercial banking (comprising middle-market banking), cash management, trust banking and treasury operations (involving management of Co.'s liquidity and funding requirements and handling of transactions in the financial markets covering foreign exchange, fixed income trading and investments, and derivatives). Through its subsidiaries, Co. is also engaged in pre-need products and property administration and management. As of Dec 31 2011, Co. had total deposits of Pp204.21 billion.
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