PhilRatings is the pioneer domestic credit rating agency in Philippines providing credit ratings for bonds, commercial papers, bank loans, banks and other financial institutions, corporations, project finance transactions, LGUs, and asset-backed securities, among others. 

A credit rating is an opinion that provides a measure of credit quality. It is an unbiased, independent, third-party evaluation of an issue or issuer. It is a grading system which focuses on a company's capability and willingness to pay its obligations upon maturity.

PhilRatings has been assigning credit ratings since 1985, formerly operating as a department of Credit Information Bureau, Inc. (CIBI). The department was eventually spun off to form a separate and independent entity, PhilRatings.

It is a founding member of the Association of Credit Rating Agencies in Asia (ACRAA) comprised of 30 domestic credit rating agencies from within the Asian region. 

PhilRatings plays an active role in the development  of the Philippine capital market. It is the first and the only domestic Credit Rating Agency (CRA) recognized by BSP for bank supervisory purposes. The eligibility criteria for recognition include, among others: a minimum 5-year track record in issuing reliable and credible ratings; a pool of experienced analysts; a competent and experienced Board of Directors; an established rating methodology; and an established record of independence, objectivity, and transparency. BSP also recognizes PhilRatings as a domestic External Credit Assessment Institution (ECAI) which can rate domestic debt issuances.

PhilRatings is likewise accredited as a credit rating agency by the Securities and Exchange Commission (SEC). Its assigned credit ratings are also used by the Philippine Dealing and Exchange Corporation (PDEx), and by the Insurance Commission, as applicable.

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