Moody’s Ratings logo at its headquarters in New York. | File Photo by ANGELA WEISS / AFP
MANILA, Philippines — Moody’s Ratings on Monday affirmed the Philippines’ investment-grade “Baa2” rating, maintaining a stable outlook as it expects a recovery in economic growth to help stabilize the country’s fiscal metrics over the next two years.
“The stable outlook reflects a balance of risks at the Baa2 rating level. Near-term growth has slowed significantly, weighed down by higher food and energy costs following the conflict in the Middle East and a still-gradual recovery in public investment in the wake of the flood-control probe, and the still-cautious business sentiment amid elevated prices and lingering uncertainty, which have constrained private investment,” Moody’s said in its latest rating action.
READ: Moody’s keeps ‘Baa2’ rating on 3 Philippine banks
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