Moody’s upgrades PH credit rating a notch

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The Philippines received another credit rating upgrade from Moody’s Investors Service on Thursday, with the outlook stable, the global ratings agency said.

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Moody’s said the country’s credit rating rose one notch to Baa2 from Baa3.

The decision took into account the country’s ongoing debt reduction, aided by improvements in fiscal management; continued favorable prospects for strong economic growth, and limited vulnerability to the common risks currently affecting emerging markets, the ratings agency said.

mc/nt

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