Fitch gives investment grade 'BBB' rating to Philippines' planned bonds

Arthur Fuentes

ABS-CBN News

MANILA - Fitch Ratings has assigned an investment grade &#x27;BBB&#x27; rating to the Philippines&#x27; planned issuance of US dollar and euro bonds. An investment grade rating means better terms and lower interest rates for a borrower as there is less risk of debt default.The debt watcher said the rating is in line with the Philippines&#x27; &#x27;BBB&#x27; Long-Term Foreign-Currency Issuer Default Rating (IDR) with a stable outlook and was last affirmed in June this year.Fitch Ratings however also said that bonds&#x27; rating may change depending on changes in the Long-Term Foreign-Currency IDR, which can be affected by several factors.The rating may be downgraded if there is reduced confidence in the Philippines&#x27; strong, stable medium-term economic growth and continued adherence to sound economic policies.Failure to maintain a stable government debt-to-GDP ratio, and a significant deterioration in foreign-currency reserves and the country&#x27;s net external debt position, may also lead to ratings downgrade.However, the rating may also be upgraded if the Philippines outperforms growth forecasts, reduces its debt-to-GDP ratio, and strengthens governance standards at par with its peers. Philippine economic managers are aiming for an upgrade to &#x27;A&#x27; level ratings from major ratings agencies like Fitch, Moody&#x27;s and S&amp;P Ratings. The Philippines recently secured another &#x27;A&#x27; rating from a Japan-based debt watcher.

An investment grade rating means better terms and lower interest rates for a borrower as there is less risk of debt default.

An investment grade rating means better terms and lower interest rates for a borrower as there is less risk of debt default.

Fitch gives investment grade 'BBB' rating to Philippines' planned bonds | ABS-CBN

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Fitch gives investment grade 'BBB' rating to Philippines' planned bonds

Fitch gives investment grade 'BBB' rating to Philippines' planned bonds

Arthur Fuentes,

ABS-CBN News

Published Aug 28, 2024 04:16 PM PHT

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Fitch Ratings

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