Standard & Poor’s Global Ratings again raised the Philippines’ credit rating to BBB+, two notches above the minimum investment grade appraised by the major international debt watcher based in New York.
The Philippines was cited for its strong economy marked by low public indebtedness, solid government fiscal accounts, and sound external environment.
In 2018 S&P Global Ratings raised its outlook on the Philippines’ credit rating to BBB – one notch above the minimum investment grade and marked it from “stable” to “positive.”
The country’s higher credit rating will mean that lenders to government and companies will lower loan costs.
S&P stated that they may further increase the country’s ratings in the next 2 years if the government continues to make significant fiscal reforms, on its way to getting a single “A” grade.
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