Sign up | Log in



Home  >>   Daily News  >>   Philippines News  >> Economy  >> Moody’s upgrades Philippines to ‘investment grade’
NEWS UPDATES Asean Affairs   4 October 2013  

Moody’s upgrades Philippines to ‘investment grade’

by Ron B. Lopez

The Philippines’ credit rating is now at ‘investment grade’ after Moody’s on Thursday upgraded the country’s rating from Ba1 to Baa3.

The credit-rating agency said the upgrade is due to the country’s robust and sustained economic performance as it “has entered a structural shift to higher growth, accompanied by low inflation.”

“Real GDP [Gross Domestic Product] expanded by 6.8 percent in 2012 and 7.6 percent year-on-year in the first half of 2013. These levels are among the fastest rates of growth in Asia-Pacific and across emerging markets globally. At the same time, CPI inflation remains well anchored and is currently below the central bank’s target range,” Moody’s said in a statement.

Moody’s has also upgraded the government’s foreign currency shelf rating to (P)Baa3 and the ratings for the liabilities of the country’s central bank, Bangko Sentral ng Pilipinas (BSP), to Baa3.

The Philippines’ credit rating and its foreign currency self rating are both assigned positive outlooks.

This has been the country’s third investment-grade scores from the top three credit rating agencies. Standard & Poor’s and Fitch Ratings have already upgraded its rating for the Philippines earlier this year.

Moody’s has also raised the Philippines’ long-term foreign currency (FC) bond ceiling to Baa1 from Baa2 as well as its long-term FC deposit ceiling to Baa3 from Ba1.

According to Moody’s, the “ongoing fiscal and debt consolidation and political stability and improved governance” have prompted it to review and upgrade its credit rating, which concludes its initial evaluation on 25 July 2013.

The country, according to Moody’s, will maintain a current account surplus, which has been strengthened by remittance inflows of the Overseas Filipino Workers (OFW) and services exports, particularly from the business process outsourcing sector or call center.

“These flows are likely to remain strong, if not strengthen, over the outlook horizon. The Philippines’ external strengths are reflected in the falling external debt to GDP ratio and the ample stock of gross international reserves, which now exceeds the country’s total external debt,” it said.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

Today's  Stories    4  October 2013 Subsribe Now !
• Thailand Futures Exchange’s trading volume up 63 pct in first 9 months Subcribe: Asean Affairs Global Magazine
• China, Indonesia take ties to new level Asean Affairs Premium
• Myanmar's economy yet to see real progress, says Suu Kyi
Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

• Hygiene key to European trade
• ATM card holders have $4b
• Moody’s upgrades Philippines to ‘investment grade’
• DTAC agrees to reduce signal strength along Laos border
Asean Analysis           4 October  2013 Advertise Your Brand
• Asean Analysis- October 4, 2013
Obama’s Asia Trip: Go or No?
• Asean Analysis- October 4, 2013
The Malaysia Curse: Will a U.S. President Ever Get to Kuala Lumpur?
• Asean Analysis- October 4, 2013
Asean to back member candidates as UN representatives
• Asean Analysis- October 4, 2013
Cambodia to feel an energy crunch, but growth to remain stable: report
• Asean Weekly:The Biweekly Update 4 October  2013
Asean Stock Watch     4 October  2013
• Asean Stock Watch-October 4, 2013 

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand