Friday, 21 December 2012

S&P upgrades Phl outlook to positive

By Prinz P. Magtulis
Philstar
http://www.philstar.com/business/2012/12/21/888348/sp-upgrades-phl-outlook-positive

MANILA, Philippines - The Philippines’ bid for an investment grade got a boost yesterday after Standard & Poor’s (S&P) Rating Services upgraded its credit rating outlook for the country from “stable” to “positive” on the back of strong confidence to the Aquino administration.

The upgrade indicates the country, which has a BB+ long-term foreign-currency rating from S&P, could notch its first-ever investment grade rating over the next 12 to 18 months. Such a status would mean lower debt interest payments and attracting more foreign investments.

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