PAL (PSE:PAL) unit, Philippine Airlines, received a first-time Ba2 corporate family rating from Moody's, with a stable outlook.
The rating reflects the carrier's improved financial position and strong standing in the domestic and international aviation markets, according to a Monday Philippines Exchange filing.
Moody's highlighted the airline's market leadership, strengthened balance sheet, and more efficient cost structure.
The airline has taken steps to manage risks, including securing fuel supply through June, the filing said.
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