THE JAPAN Credit Rating Agency (JCR) has again maintained the Philippines’ “A-” rating with a “stable” outlook, citing the country’s resilient economic growth and continued fiscal consolidation.
In a news release on Thursday, JCR affirmed the country’s foreign currency and local currency long-term issuer rating at “A-” and kept its “stable” outlook.
“The ratings mainly reflect Philippines’ high and sustained economic growth supported by solid domestic demand, low-level external debt and resilience to external shocks supported by accumulated foreign exchange reserves,” it said.
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