The Philippine peso has sunk to a new low against the greenback
MANILA, Philippines — The Japan Credit Rating Agency (JCR) on Friday affirmed the Philippines’ “A” credit rating and maintained a stable outlook, citing hopes that the country’s strong external buffers will help it remain resilient amid headwinds.
“The ratings mainly reflect the 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,” JCR said in its latest rating action.
READ: Moody’s affirms Philippines’ Baa2 rating
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