Moody’s Corp. has agreed to acquire a minority stake in Philippine Rating Services Corp., aiming to capitalize on the expanding debt markets in the Philippines and Southeast Asia. The deal terms were not disclosed, but Moody’s emphasized the complementary expertise of Manila‑based Phil Ratings in local credit analysis, which will enhance its global credit views for investors in the region. The Philippine corporate bond market now exceeds $100 billion in planned infrastructure investment over the next three years, with domestic Asean corporate bonds outstanding more than double cross‑border holdings. Moody’s will become the first global rating agency to invest in a domestic Philippine ratings firm, while Phil Ratings will retain its independent management, governance, and rating processes.

In related market activity, Indian bonds fell after the Reserve Bank of India announced a 1 trillion‑rupee bond sale to drain surplus liquidity, raising yields and weakening the rupee. Citi expects the RBI to hike rates by 50‑75 basis points next month as inflation nears the upper target range.

Meanwhile, Tata Sons’ listed shareholders rallied after the RBI rejected the conglomerate’s request to waive a public‑listing requirement, prompting gains in several Tata Group companies as the prospect of an IPO looms.