Moody’s reviews PH for debt upgrade

Moody’s Investors Service says it’s likely to elevate the Philippine government’s debt rating to investment-grade, citing the country’s robust economic growth and political stability. Two other major credit rating agencies already upgraded the Philippines to investment grade this year. In a statement, the US ratings agency says it placed the Ba1 foreign and local currency long-term issuer and bond ratings of the Philippines on review for upgrade. The next-highest rating on its scale is “Baa3”, the lowest in the investment-grade ranks. The agency says the country’s economic performance exceeded Moody’s expectations. It credits the improvement to the reform agenda of the Aquino administration. Moody’s also says an upgrade could come if there is evidence the government’s debt burden will decrease and that investment spending will increase.

Read more on Rappler.