Will polls affect credit rating?

Fitch Ratings said the outcome of the Philippine elections won’t have an immediate impact on the coutry’s minimum investment grade credit rating and stable outlook. In April, Fitch gave the Philippines a “BBB-” rating with a positive outlook, noting the country’s strong net external creditor position, declining general government debt and deficit levels, and positive growth momentum. Sagarika Chandra, an associate director of Fitch Ratings’ Sovereigns team, said the Philippines’ underlying economic fundamentals remains a strength. Davao City Mayor Rodrigo Duterte is poised to win the presidency, but there have been some concerns about the impact of a Duterte presidency on the Philippine economy, as Duterte failed to present a detailed economic plan to business leaders during his campaign.

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