PH gets second investment grade rating
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.