Fitch affirms PH credit rating

DEBT watcher Fitch Ratings affirmed the Philippines’ “BBB” lower medium investment grade rating with a stable outlook.

“The Philippines’ sovereign ratings balance a favourable growth outlook, government debt levels that are below peer medians, a net external creditor position and policies geared towards maintaining macro[economic]stability against lower income per capita and weaker governance and business environment indicators compared with its rating category peers,” Fitch said in a statement released on Wednesday.

The “BBB” rating is a notch above minimum investment grade. A stable outlook, meanwhile, indicates that the rating is likely to be maintained within the next 12 to 18 months. MAYVELIN U. CARABALLO

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