Moody’s upgrades Philippines to Ba1

30 Oct 2012

Moody’s has upgraded its rating of the Philippine sovereign to one notch below investment grade due to developments that could prompt further rating action if the positive trajectory continues.

Moody’s has upgraded its rating of Philippine government bonds from ‘Ba2’ to ‘Ba1’, one notch below investment grade, due to the country’s improved economic performance despite deteriorating global demand, and may upgrade the rating further if the positive economic developments in the country continue.

The rating agency ...

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