JAPANESE credit watchdog Rating and Investment Information, Inc. (R&I) affirmed the Philippines’ investment-grade “A-” rating with a stable outlook, citing its steady economic growth.
“The Philippines is expected to realize stable economic growth as well as higher income level against the backdrop of robust public and private investments, development of domestic business such as information technology and business process management (IT-BPM) industry, and population growth, among other factors,” R&I said in a statement on Wednesday.
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