Philippines Now Investment-Grade

MANILA--Debt watcher Fitch Ratings lifted the country’s credit rating to BBB- from BB+, with a stable outlook, less than a month after its team visited the Philippines for a diligence review of the country’s macro fundamentals, reports An investment grade rating means the Philippines has a strong ability to meet its financial commitments fully and on time. While credit ratings do not indicate investment merit, credit risk is one of the factors taken into consideration by businessmen. An investment grade sends a message that the Philippines is a safe place for investments, including big-ticket ones that generate much-needed employment. More investments, more jobs, and more funds for social services are expected after the country bagged yesterday its first-ever investment grade rating.