Philippines got another
investment grade from a supreme credit rating, this time from the South Korean based
NICE (National Information and Credit Evaluation Ratings Inc.)
For the first time NICE give a
rating status to the Philippines as “investment”, it raised the country’s long—term,
foreign—currency rating by the notch from junk to minimum investment grade of
BBB.
The ratings given by NICE assigned
as “positive”
outlook on Philippines, means there’s a possibility of another upgrade within
the short term.
“The viewpoint is positive. It mirrors
the improved growth potential which was backed by the institutional reforms and
greater investment in infrastructure,” NICE Ratings in its report on Philippines.
NICE cited “Philippines’ ability to maintain its
economic development this year.
Philippines already received good
investment grade status from other major international ratings firms Moody’s
Investors Service, Standard & Poor’s Fitch Ratings, Japan Credit Rating
Agency and R&. BSP Governor Tetangco Jr. and the Finance Secretary Purisima
welcomed NICE Ratings.
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