THE Philippines could be set for a credit ratings upgrade after S&P Global Ratings (S&P) on Tuesday raised its outlook to 'positive' from 'stable.'
THE Philippines could be set for a credit ratings upgrade after S&P Global Ratings on Tuesday raised its outlook to 'positive' from 'stable.'The debt watcher currently rates the country as 'BBB+,' which it set in 2019. The next step-up is 'A-'. A 'positive' outlook indicates the possibility of an upgrade in the medium term.
The Philippines' external position also remains a 'credit strength' that is reflective of higher foreign exchange reserves and low external debt.S&P expects the country to grow by 5.5 percent this year, driven by a recovery in net exports along with contained inflationary pressures. This, however, falls below the government's 6.0- to 7.0-percent target.
Upgrade Possible As S&P Raises PH Outlook
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