The Philippines' credit rating reached an "A-" by Rating and Information Inc., its highest ever, due to strong economic performance and sustained growth.

The Philippines' credit rating reached an "A-" by Japan-based Rating and Information Inc., the highest rating ever, due to strong economic performance and sustained growth. The upgrade may result in lower borrowing costs and cheaper financing for the government, businesses, and consumers. President Ferdinand R. Marcos Jr. sees this as a positive impact on public services, infrastructure, healthcare, and education. The rating agency cited factors such as sustained economic growth, sound fiscal management, a stable banking sector, resilient private consumption, and the country's inclusion in the US semiconductor supply chain as key contributors to the upgrade.

August 17, 2024
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