By Katherine K. Chan, Reporter
S&P GLOBAL RATINGS revised the Philippines’ credit outlook to “stable” from “positive,” citing risks to the country’s external and fiscal position from surging energy prices due to the Middle East conflict and a slowdown in infrastructure spending.
“We revised the rating outlook on the Philippines to stable from positive because the war in the Middle East has increased risks for the trajectory of the country’s external and fiscal metrics,” the rating agency said in a report by analysts YeeFarn Phua and Andrew Wood released late on Wednesday.
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