Friday, October 28, 2016
business /
  • share this

PH gets first-ever investment grade rating

/ 03:05 PM March 27, 2013


MANILA, Philippines–The Philippines has achieved its first-ever investment grade rating after international debt watcher Fitch raised the country’s rating to BBB- from BB+.

Fitch Ratings — the first of the three major international debt watchers to upgrade the Philippines — also assigned a stable outlook for the country’s credit rating.

Fitch cited the country’s sovereign balance sheet as being comparable to those of ‘A’-rated nations, while a “persistend current account surplus, underpinned by remittance inflows” has made the country a “net creditor” from its previous deficit position.


FItch also noted the economy’s 6.6-percent economic growth for 2012 and the expected 5.5 percent growth for this year, both of which are “stronger and less volatile” that BBB-rated peers over the last five years.

“Improvements in fiscal management begun under President Arroyo have made general government debt dynamics more resilient to shocks,” Fitch said.

TAGS: Business, Fitch, investment grade, Philippines
For feedback, complaints, or inquiries, contact us.

© Copyright 1997-2016 | All Rights Reserved