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PH gets second investment grade rating

2 May 2013 No CommentEmail This Post Email This Post

President Benigno S. Aquino III, observes an applicant using the internet-based Employment Kiosk of the Department of Labor and Employment (DOLE) during the Job and Livelihood Fair at the St. Michael’s Park Covered Court in Camp Servillano Aquino, Tarlac City, Tarlac. Standard & Poor's gave the Philippines an investment grade credit rating on Thursday in the second such boost to the country's standing this year. S&P said it raised its sovereign rating on the Philippines to BBB minus from BB plus. It said the outlook for the rating was stable. (Malacañang Photo Bureau/Benhur Arcayan)MANILA (AP) – Standard & Poor’s gave the Philippines an investment grade credit rating on Thursday in the second such boost to the country’s standing this year.

S&P said it raised its sovereign rating on the Philippines to BBB minus from BB plus. It said the outlook for the rating was stable.

The upgrade reflects a “strengthening external profile, moderating inflation, and the government’s declining reliance on foreign currency debt,” S&P credit analyst Agost Benard said.

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