Credit rating is an important component of capital markets development. Through credit rating, improved disclosure and transparency are achieved, thereby making the financial markets more efficient.

    The credit rating function in the Philippines started in 1985 when a company then known as Credit Information Bureau, Inc. (CIBI) began rating commercial papers as a requirement for registration with the Securities and Exchange Commission (SEC). Although credit rating has been on-going in the country for 33 years, continuous market education is still necessary. For a better understanding of credit ratings and the credit rating process, here are the