Moody’s raises Philippine credit rating, citing healthy economyPosted on October 29th, 2012 under Biz Progress
Ratings Agency Moody’s Investors Service has upgraded its credit rating for the Philippines from Ba2 to Ba1, now just one notch below investment grade.
The credit rating watchdog cited the Philippines favorable macroeconomic fundamentals, improving fiscal condition of its government, and potential to sustain a healthy pace of growth over the medium term as reasons for the upgrade.
Apart from the upgrade, Moody’s also assigned a “stable” outlook on the country’s new credit rating.
A “stable” outlook indicates that the credit rating is likely to be kept at least within the short term.