PH gets first-ever investment grade rating

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AFP PHOTO

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.

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  • http://www.facebook.com/profile.php?id=100002172368826 Jack Bw

    This is great news for our country. But there’s more work to be done. In the last 12 years we experienced 6-7% growth only 4 times. If we can sustain 6% growth this year, it will be the first time in 24 years that we grew by 6% for 2 consecutive years.

    Let’s not forget that the original Four Tigers of Asia (Hong Kong, Singapore, Taiwan & South Korea) sustained their growth for 4 decades. Four decades people, we haven’t even sustained it for 2 years yet (though we’re on our way).

    Don’t get me wrong, I think it’s an accomplishment to achieve 6%+ growth when everybody else is struggling. I just have a feeling it’s still too early and we could still aim higher.

  • http://www.facebook.com/kenjie.hasaki Kenjie Hasaki

    Siguro kung lahat ng may mga negative comments dito eh may investment sa stock market, they too will party on news like this…. sadly, siguro sa bawat 100 na commenter dito, mga isa hangang dalawa (1 – 2) lang ang may investment sa stock market… haist… hindi ko alam kung kanino ako maaawa – sa mga nega ba kc hindi sila nakapagbenefit sa news tulad nito o sa inang Pilipinas kc maraming siyang anak na walang financial literacy.

    • Brax82

      I’m invested in the stock market… Namely BPI, BDO, MEG, AYI. But I still think your president hasn’t done anything but fool morons like you. Before talking about financial literacy, first stop acting like an idiot. Besides, the negative comments here are because of you noytards giving all the credit to the retarded president istead to where it is due. If you really love acting like a moron then keep it to yourself.

    • Brax82

      Oh, how lame. No rebutal for your stupid stocks theory and where the negative comments came from? Did I just hurt the feelings of little Kenjie by calling him a moron and an idiot? How sad, stop crying and open your eyes MORON! You have a RETARDED president and they love making fools out of IDIOTS like you!

      • http://www.facebook.com/kenjie.hasaki Kenjie Hasaki

        O brax my dear… As the Lord said, “If we only love those who love us, where is the greatness in that….”

        It was you who did not give a valid rebuttal. In fact you agree that you benefited from this good news. And yet, you are still blinded by your hatred. I felt so sorry for you. Someday, you will see the error of your ways.

      • Brax82

        Are you high on drugs? Or don’t you even understand your own post due to stupidity? Please read your first post and your stupid theory then maybe you could wipe the tears from your eyes and see what kind of Morons you and your president are. Wow, you are now also using the name of the Lord! Typical Noytard! Go Kenji, Drugs pa!

      • http://www.facebook.com/kenjie.hasaki Kenjie Hasaki

        I forgive you…

      • Guest

        And if tears Brax, it would be for you…

      • Brax82

        Another Noytard silenced due to their inability to defend their retarded President. Let us keep vigilant, and not allow our fellow country men to be fooled by propagandas only morons can swallow!

      • http://www.facebook.com/kenjie.hasaki Kenjie Hasaki

        And if I tears brax, it would be for you… I am so sorry you felt that way…

  • Jose_Mercado

    With good governance most of the incoming capital inflow will be felt by the majority maybe not this year but next year and so on. Currently, Asia is the epicenter of business growth and as long as these investors trust in the present administration, the public will benefit form the new businesses that will be sprouting along with this growth. There is no denying that the remittance inflow is helping a lot but i has been there in the past and it’s only now that we can see how it can positively help when the other government resources were not wasted in corruption.

  • FORTHE GOOD

    The greatest news of 2013 so far. Remarkable achievement.
    God bless the Philippines.

  • UrHONOR

    DESPITE all the shortcomings and bunglings of the great pands, the country is able to resurrect again under the leadership of PNoy and the assistance of all the kabayans. Buti na lang at nakulong na yong nangbaboy at nanggulo ng bayan sampu ng kanyang mga alipores!

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