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The Pasig skyline as seen from the Metro Manila Development Authority (MMDA) Command Center  in Pasig City on July 7, 2025.  Jonathan Cellona, ABS-CBN News

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Another Japan rating agency keeps 'A-' outlook for Philippines

ABS-CBN News

MANILA — Another Japanese agency has affirmed its investment-grade &quot;A-&quot; credit rating for the Philippines, with a stable outlook.<div><a href="https://www.abs-cbn.com/news/business/2026/8/24/moody-s-affirms-philippines-investment-grade-rating-stable-outlook-2111" rel="noopener noreferrer" target="_blank">Moody&#x27;s affirms Philippines&#x27; investment grade rating, stable outlook</a></div>In a statement, the Japan Credit Rating Agency (JCR) noted that the Philippines grew at its slowest non-pandemic pace in 2025, as public investment declined on the back of a massive flood control scandal.JCR said, however, that investigations into those involved in the flood control mess are progressing.&quot;Accountability efforts are advancing, with some individuals already being indicted,&quot; the JCR said.&quot;In the
second half of the year, JCR projects real GDP growth to recover, with the full year 2026 to reach the
mid-3 percent range, driven by recovery in public infrastructure investment and the effects of price
stabilization policies,&quot; it added.The Japan-based debt watcher also noted that the country&#x27;s current account deficit improved to 3.3 percent of GDP in 2025 from 4 percent in 2024 because of higher exports of electronic products, steady remittances from overseas workers, business
process outsourcing revenues, tourism receipts, and net inflows of foreign direct investments.It also noted that foreign exchange reserves in the Philippines were at $110.8 billion.<div><a href="https://www.abs-cbn.com/news/business/2026/1/8/philippines-gross-reserves-up-in-2025-1125" rel="noopener noreferrer" target="_blank">Philippines&#x27; gross reserves up in 2025</a></div>&quot;Despite increased
uncertainty due to the deteriorating situation in the Middle East, the country’s foreign exchange
liquidity position remains solid, and JCR expects the economy to retain high resilience to external
shocks going forward,&quot; it said.The Bangko Sentral ng Pilipinas (BSP) said the rating affirmation stressed the importance of sustaining reforms that support investment and productivity. The Department of Finance, for its part, said the rating boosts investor confidence and supports government efforts to attract investments and create quality jobs.Last week, another Japanese ratings agency, R<a href="https://www.abs-cbn.com/news/business/2026/8/21/japan-agency-keeps-a-rating-outlook-for-ph-1715" rel="noopener noreferrer" target="_blank">ating and Investment Information, Inc. (R&amp;I)</a>, also kept its &quot;A-&quot; credit rating for the Philippines.

Another Japanese credit rating agency has affirmed its "A-" credit rating for the Philippines, with a stable outlook.

Another Japanese credit rating agency has affirmed its "A-" credit rating for the Philippines, with a stable outlook.