Moody’s: PH developments ‘credit positive’

Following the stellar performance of the Philippine economy in the first quarter of the year, Moody’s Investors Service said that developments in the country are “credit positive.”

In its latest credit outlook, Moody’s noted that, the Philippines, which was has a rating of Ba1 stable, recorded a 7.8-percent gross domestic product (GDP) in the first quarter of 2013, buoyed by private consumption and fixed capital formation.