Economy

xchrom

(108,903 posts)

32. Philippines credit rating upgraded to a nine-year high

Thu Jul 5, 2012, 10:32 AM

Jul 2012

http://www.bbc.co.uk/news/business-18718090

Ratings agency Standard & Poor's (S&P) has raised the Philippines' credit rating, taking it one step away from its aim to become an invetsment grade economy.

S&P raised it rating to BB+ from BB, the highest level since 2003.

The rating agency said the upgrade was a result of the government's improving finances.

The higher rating grade is likely to help the Philippines attract more investment, a key to further growth.

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