Moody’s upgrades PH credit rating

1:24 pm | Monday, October 29th, 2012

AFP PHOTO

MANILA, Philippines – Moody’s Investors Service on Monday announced that it upgraded its credit rating for the Philippines from Ba2 to Ba1, or from two notches to just one notch below investment grade.

In a statement, the credit watchdog cited the Philippines favorable macroeconomic fundamentals, improving fiscal condition of its government, and potential to sustain a healthy pace of growth over the medium term as reasons for the upgrade.

Moody’s assigned a “stable” outlook on the country’s new credit rating.

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Tags: Credit rating , economy , Moody's , Philippines

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