MANILA, Philippines — The Philippines retained its “A-” investment-grade rating with a stable outlook from the Japan Credit Rating Agency (JCR), with the debt watchdog expecting the country’s strong external buffers to help it maintain its resilience against headwinds.
In its latest rating action on Friday, JCR—whose credit opinion is closely watched by Japanese investors—projected Philippine economic growth to settle in the mid-3 percent range this year, driven by a recovery in public infrastructure investment and the effects of price stabilization policies.
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The debt watcher, however, expects the government debt-to-Gross Domestic Product (GDP) ratio to remain in the mid-60 percent range for some time as the pace of fiscal improvement slows.FEATURED STORIES
