Purisima: PH is actually 2 notches above investment grade

Finance Secretary Cesar Purisima says the Philippines is “the most underrated country in the world,” adding the recent credit upgrade from Fitch still does not reflect how foreign investors view the country as an investment destination. On March 27, global credit rating firm Fitch upgrades the Philippines’ credit rating to BBB-. But Purisima says other credit rating agencies already rated the Philippines investment grade years ago. He says, “The market rates [that reflect pricing on the Philippine credit risk] are already two notches above investment grade. We’re probably the most underrated country in the world.” Purisima says the big 3 international credit rating agencies — Fitch Ratings, Standard & Poor’s, and Moody’s Investor Service — lag behind the foreign investors’ credit risk assessment of the country. Tune in to www.rappler.com on April 4 for the full interview.

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