Legislators laud upgrade of PH credit rating

MANILA, Philippines — Legislators on Tuesday lauded the upgrade of the country’s credit rating to a notch below investment grade by Moody’s Investors Service, saying that this indicated an improvement in the way global investors perceive the Philippine economy.

Speaker Feliciano Belmonte Jr., Aurora Representative Juan Edgardo Angara, and Eastern Samar Representative Ben Evardone said that the boost the country’s credit rating was a sign that its economy was being seen in a positive light by the international business community.

Evardone attributed the development to President Benigno Aquino III’s leadership and the improving investment climate in the Philippines.
“Hopefully these positive economic developments will trickle down to the lower strata of our society.”

The upgrade should motivate the government to improve its management of finances, according to Angara who said “it will enable the government to finance much needed investment in human and physical infrastructure such as investments in education, healthcare, and other basic services.”