The credit rating company S&P lifts the Filipino rating to ’BBB+’ from the previous ‘BBB’ level.
According to S&P, the decision is supported by the strong economic growth of the Philippines, the country’s low public debt and stable budget. The BBB+ is two grades higher than the so called ‘investment grade’ -level. The upgrade is very positive for the Philippines, as it helps to attract foreign investment capital to the country. The lift has naturally a positive effect on the FDI funds as well.