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Philippines one step away from becoming an investment grade economy

in International Business

Philippines one step away from becoming an investment grade economy

Ratings agency Standard & Poor’s upgraded Philippines credit rating to a nine-year high from BB to BB+.

The higher rating is likely to help the country to attract more investment.

“The foreign currency rating upgrade reflects our assessment of gradually easing fiscal vulnerability, as the government’s fiscal consolidation improves its debt profile and lowers its interest burden,” said S&P.

Two of the three major international rating agencies now have the Philippines one rung below investment grade.

Tags assigned to this article:
Philippines credit rating

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  1. Philippine Investment
    Philippine Investment 1 November, 2012, 23:46

    Nice. Hope this will attract more investors to invest in the philippines.

    Reply this comment
  2. Pinoy Investor
    Pinoy Investor 2 November, 2012, 01:03

    Philippines will be there for sure. Let’s just continue to believe that we can.

    Reply this comment

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