Loading
Breaking
Now Reading: UPGRADED TO ‘BBB+’ | PH credit rating hits highest –S&P
UPGRADED TO ‘BBB+’ | PH credit rating hits highest –S&P
May 1, 2019 , 07:01 PM

MAY 1, 2019 — Debt watcher Standard & Poor’s (S&P) upgraded the sovereign credit rating of the Philippines to ‘BBB+’ on the back of strong economic growth.

The rating is the highest investment grade rating of the Philippines.

In a statement, S&P Global Ratings cited the country’s above-average economic growth, health external position, and sustainable public finance.

“The stable outlook reflects our view that the Philippine economy will maintain its strong momentum over the medium term, in combination with contained fiscal deficits and stable public indebtedness,” said the debt watchdog.

With much lower borrowing costs, the National Economic and Development Authority (NEDA) said the upgrade will help sustain the momentum of economic expansion.

The Department of Finance noted that the upgrade will help both the private and public sector.

“Ang result niyan ay magiging mas mura ang pag-utang ng ating gobyerno or ng kahit sinumang Filipino corporation na kailangan ng additional resources,” said Finance Assistant Secretary Antonio Lambino.

In a statement, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said the central bank will continue to extend support to the Philippines’ economic development goals.

“Armed with a new charter that strengthens its ability to carry out its primary mandate of price stability and supervise the banking sector, the BSP will continue to lend support to the economic development goals of the country,” said Diokno.

More From News5
Libreng cr at wifi
Niligdaan ni Pres. Rodrigo Duterte ang batas para magkaroon ng maayos na palikuran ang mga transport terminals.
Published On: June 25, 2019
Nagsorry kay Pres. Duterte
Humingi ng paumanhin kay Pres. Rodrigo Duterte ang kapitan ng F/B Gem-Ver 1 na kabilang sa mga inabandona sa laot ng mga Chinese. | Romel Lopez
Published On: June 25, 2019
'Black money scam'
Natangayan daw ng P10-milyon ang lalaking nabiktima ng scam. | Marianne Enriquez
Published On: June 25, 2019
U.S. Pres. Trump reelection bid
Sinimulan na ni Trump ang kampanya para sa 2020 elections.
Published On: June 25, 2019
Parangal kay Eddie Garcia
Itinanghal na best actor si Manoy sa 2019 Gawad Urian.
Published On: June 25, 2019
Matinding training ni Pacman
Alam na umano ng kampo ni Manny Pacquiao ang kahinaan ng makakalaban niyang si Keith Thurman.
Published On: June 14, 2019
Girian sa protesta sa Hong Kong
Tinututulan ng libu-libong raliyista ang extradition bill na layong malitis sa mainland China ang mga suspek mula sa Hong Kong.
Published On: June 14, 2019
Lumubog na bangka sa Recto bank
Sakay nito ang 22 Pilipino nang mabangga ng hinihinalang Chinese fishing vessel sa West Philippine Sea.
Published On: June 14, 2019
WOTD | Contempt of Court
Alamin ang iba't ibang termino sa usapang legal kasama si Atty. Mel Sta. Maria
Published On: June 14, 2019
Laban para sa anak
Nagpatulong ang ginang na mabawi ang kanyang anak sa dati niyang nobyo.
Published On: June 14, 2019
Top Stories
TOKYO 2020 | Local ticket demand higher than expected —organizers
By Jack Tarrant JULY 5, 2019 (Reuters) — Tokyo 2020 organizers said on Friday they had underestimated Japanese demand for tickets after 3.22 mill
Published On: July 5, 2019
‘USA! USA! USA!’ | Trump salutes military in pomp-filled July 4 celebration
By Jeff Mason JULY 5, 2019 (Reuters) — With U.S. fighter jets flying overhead, President Donald Trump praised the military and reveled in a show
Published On: July 5, 2019
‘COUNTERPRODUCTIVE’ | HNP shuns term-sharing scheme
(JULY 5, 2019) – Davao City mayor Sara Duterte-Carpio and her regional party Hugpong ng Pagbabago (HNP) rejected the term-sharing scheme whic
Published On: July 5, 2019
CABINET MEMBERS WARNED | Duterte Coalition formed to ‘unite’ House
JULY 5, 2019 – Some lawmakers in the House of Representatives led by Davao City Representative Paolo Duterte formed a coalition in a bid to u
Published On: July 5, 2019
DEFENSE PACT | Armed attack vs PH to trigger US obligations under MDT – envoy
JULY 5, 2019 – An armed attack on Philippine forces could trigger the United States’ obligations under the Mutual Defense Treaty (MDT),
Published On: July 5, 2019