Fitch switches outlooks on Landbank, DBP to ‘negative’

MANILA, Philippines — Fitch Ratings has revised the outlooks on the country’s two state-owned lenders to “negative,” following a similar sovereign credit outlook downgrade last week. This signaled pressure on the government’s ability and willingness to support the banks. In a commentary on Tuesday, the London-based debt watchdog said the government support ratings (GSR) of