One of the world's most renowned credit watcher Fitch Ratings has upgraded the Philippines Long-Term Foreign-Currency Issues Default Rating to "BBB" from "BBB-" on Monday, which indicates "Good Credit Quality," citing continued strong macroeconomic performance and sound policies supporting high and sustainable growth rates.
Fitch Ratings said in a statement "There is no evidence so far that incidents of violence associated with the administration's campaign against the illegal drug trade have undermined investor confidence," Fitch said.
The "BBB" ratings indicate that expectations of default risk are currently low. The capacity for payment of financial commitments is considered adequate, but adverse business or economic conditions are more likely to impair this capacity," Fitch said.
Fitch forecast real GDP growth of 6.8 percent for the Philippines in 2018 and 2019 and said it would maintain its place among the fastest-growing economies in the Asia-Pacific region.
In the latest Fitch upgrade of the Philippines ratings, Fitch cited the Philippine economic growth which has seen a continue uptrend.
"Strong and consistent macroeconomic performance has continued, underpinned by sound policies that are supporting high and sustainable growth rates," Fitch stated.
Source: PNA
Fitch Ratings said in a statement "There is no evidence so far that incidents of violence associated with the administration's campaign against the illegal drug trade have undermined investor confidence," Fitch said.
The "BBB" ratings indicate that expectations of default risk are currently low. The capacity for payment of financial commitments is considered adequate, but adverse business or economic conditions are more likely to impair this capacity," Fitch said.
Fitch forecast real GDP growth of 6.8 percent for the Philippines in 2018 and 2019 and said it would maintain its place among the fastest-growing economies in the Asia-Pacific region.
In the latest Fitch upgrade of the Philippines ratings, Fitch cited the Philippine economic growth which has seen a continue uptrend.
"Strong and consistent macroeconomic performance has continued, underpinned by sound policies that are supporting high and sustainable growth rates," Fitch stated.
Source: PNA
Fitch Upgrades Philippines Rating to "BBB" Indicating "Good Credit Quality"
Reviewed by Phil Newsome
on
December 11, 2017
Rating:
Reviewed by Phil Newsome
on
December 11, 2017
Rating:
