BusinessWorld E-paper
May 23, 2023
FITCH RATINGS affirmed the Philippines’ investment grade rating, while upgrading its outlook to stable from negative, reflecting its confidence in the economy’s continued recovery from the pandemic.
In a statement, the rating company kept the Philippines’ long-term foreign currency issuer default rating at “BBB.” A “BBB” rating indicates low default risk and adequate capacity to pay, although some unfavorable economic conditions could impede this.
