The Philippine rating in the world’s popular Moody’s Investor Service were upgraded on Thursday. Moody’s raised the Philippines’ rating by one notch to Baa3 Ba1 which (–foul word(s) removed–)igned positive outlook to the rating on expectations of strong economic growth.
Moody’s ratings of the Philippines followed the positive ratings already given by major credit rating firms such as the Fitch and Standard & Poor’s ratings, that upgraded the Philippines credit upgrade.
The Moody’s ratings of the Philippines is based upon, “sustained political stability points to better prospects for reform over the second half of the current presidential administration.”
According to Moody’s the Philippines economic performance “has entered a structural shift to higher growth, accompanied by low inflation.” The Philippines was also cited for its improved fiscal management.
The ratings company Moody’s also cited the current administration of Pres. Aquino’s popularity among voters, as a sign of support for its administration’s good governance reforms. Aside from raising the credit ratings of the Philippines Moody’s has also raised the Philippines’ long-term foreign currency bond ceiling to Baa1 from Baa2 as well as its long-term FC deposit ceiling to Baa3 from Ba1.
