BREAKING: Philippines raised to investment grade by Moody’s.
Moody’s upgraded the Philippines credit rating by a notch to “Baa3” from “Ba1.”
In a statement, Moody’s said it raised the rating on the following factors:
- sustainability of the Philippines’ robust economic growth
- ongoing fiscal and debt consolidation
- political stability and improved governance
The Philippines now has an ‘investment grade’ score from the top 3 international ratings agencies, Standard & Poor’s, Fitch, and Moody’s.
Source: Moodys.com, Rappler.com