MANILA, Philippines – The deepening probe into anomalous flood control projects could hurt the asset quality of Philippine banks, Fitch Ratings warned.
Delays in public works may squeeze the cash flows of contractors, potentially undermining their ability to repay loans. Tamma Febrian, director of the financial institutions team at Fitch, highlighted concerns for banks with higher exposure to affected contractors.
https://business.inquirer.net/552578/fitch-infra-graft-probe-may-hurt-ph-banks-loan-quality