Manila, Philippines – The Philippines, once tagged the “sick man of Asia,” yesterday received from Moody’s Investors Service an investment-grade Baa3, from Ba1, underscoring its rapid economic growth, political stability, improved governance, and fiscal and debt consolidation in the past few years.
Moody’s upgrade, seen to give another boost to investors’ confidence in the country, was anchored on the debt watcher’s assessment that the Philippines’ robust growth will be sustained.
Moody’s, considered as the most conservative among the three rating agencies, also assigned a positive outlook to the rating.
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