6 months S&P upgrades PH’s credit rating from ‘BBB’ to ‘BBB+’ based on strong economic growth MB |Biz
By Chino Leyco Debt-watcher S&P Global Ratings further upgraded the Philippines’ investment grade credit status today amid the country’s above-average economic growth, healthy external position along with sustainable government finances. In a statement, S&P, one of the three major international credit rating agencies, said that Manila’s long-term sovereign credit rating was raised from “BBB” to “BBB+,” which is two notches above the minimum investment grade and one notch below an “A” status. The new credit rating also comes with a “stable” outlook. “We raised the rating to reflect the Philippines’ strong economic growth trajectory, which we ... more