{"id":253331,"date":"2020-04-28T04:19:45","date_gmt":"2020-04-28T08:19:45","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=253331"},"modified":"2020-04-28T04:19:45","modified_gmt":"2020-04-28T08:19:45","slug":"ph-maintains-bbb-credit-rating-prrd","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2020\/04\/28\/ph-maintains-bbb-credit-rating-prrd\/","title":{"rendered":"PH maintains BBB+ credit rating: PRRD"},"content":{"rendered":"
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Duterte did not give further details about the country\u2019s BBB+ credit rating, which remains the highest ever in the country\u2019s history. (Pixabay photo)<\/figcaption><\/figure>\n

MANILA<\/strong>\u00a0\u2013 The Philippines has maintained its BBB+ credit rating despite the negative impact of the coronavirus disease (Covid-19) pandemic, President Rodrigo Duterte said on Monday.<\/p>\n

\u201cI am happy to report that the Philippines has maintained its credit rating of BBB+,\u201d Duterte said in a televised public address.<\/p>\n

Duterte did not give further details about the country\u2019s BBB+ credit rating, which remains the highest ever in the country\u2019s history.<\/p>\n

He attributed the country\u2019s stable growth performance to his decision to call for an enhanced community quarantine (ECQ) as early as March 15.<\/p>\n

\u201c\u2018Yung iba nagbagsakan na<\/em>\u00a0and because\u2026\u00a0Alam mo bakit? Kasi naniwala kayo — iyong iba kasi<\/em>\u00a0late\u00a0nag<\/em>-lockdown,\u00a0\u2018yung iba kung ano pa. Tayo sunod kaagad sa batas<\/em>\u00a0(Other countries\u2019 credit rating downgraded and because…you know why? Because you believed–the others declared a lockdown late. Us, we immediately obeyed the law),\u201d he said.<\/p>\n

In April 2019, Standard & Poor\u2019s (S&P) upgraded its credit rating on the country from \u2018BBB\u2019 to \u2018BBB+\u2019 with a Stable outlook, a notch away from A-level due to \u201csupportive policy dynamics and improving investment climate” due to strong domestic growth, healthy external payments position, and sustainable public finance.<\/p>\n

Moody\u2019s Investors Service, in October last year, kept its Baa2 with Stable rating on the country because of the strong fiscal position, and \u201climited vulnerability\u201d to external risks.<\/p>\n

Fitch Ratings changed its rating outlook on the country\u2019s \u201cBBB\u201d rating from stable to positive last February due to \u201csound macroeconomic policy framework that will support high growth rates with moderate inflation, progress on fiscal reforms that should keep government debt within manageable levels and continued resilience in its external finances\u201d.<\/p>\n

On April 8, Finance Secretary Carlos Dominguez III said the Philippine economy is \u201cwell-prepared\u201d to handle the Covid-19 health crisis.<\/p>\n

He expressed confidence in the government\u2019s financial capability to bridge the problems arising from Covid-19.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u00a0\u2013 The Philippines has maintained its BBB+ credit rating despite the negative impact of the coronavirus disease (Covid-19) pandemic, President …<\/p>\n","protected":false},"author":33,"featured_media":179428,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1145,54365,16,95],"tags":[],"class_list":["post-253331","post","type-post","status-publish","format-standard","has-post-thumbnail","category-headline","category-instagram","category-news","category-news-ph","mauthors-azer-parrocha","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/253331","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=253331"}],"version-history":[{"count":1,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/253331\/revisions"}],"predecessor-version":[{"id":253332,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/253331\/revisions\/253332"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/179428"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=253331"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=253331"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=253331"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}